Foreign institutions joined forces to sell off, South Korean stock market plunged over 4.5%, breaking the 6,300-point level

Odaily News: The Korea Composite Stock Price Index (KOSPI) plummeted more than 4.5%, falling to the 6,200-point range. Against a backdrop of weak overnight performance in Wall Street tech stocks, foreign and institutional investors sold off simultaneously, putting significant pressure on the index. On the day, the KOSPI closed at 6,296.38 points, down 301.88 points, or 4.58%, from the previous trading day. Foreign investors have been net sellers since early in the session, with net selling reaching 3.9781 trillion Korean won that day. Institutional investors also recorded net selling of 235.7 billion Korean won. Retail investors, meanwhile, turned net buyers with 4.1062 trillion Korean won, absorbing some of the market sell-off pressure, but this was not enough to halt the index decline. Semiconductor stocks took a direct hit.

Samsung Electronics fell 6.30% from the previous trading day, while SK Hynix dropped 10.37%. In contrast, major secondary battery companies performed relatively firmly. LG Energy Solution rose 2.83%, closing at 345,000 Korean won. POSCO Holdings gained 0.63%, closing at 319,000 Korean won. (Jin 10)