South Korean stocks plunged again today, with foreign institutions selling off in unison

Odaily reports, citing foreign media: After rebounding for two consecutive days and at one point appearing to have bottomed out, the Korea Composite Stock Price Index (KOSPI) fell sharply once again, dropping as much as 4.76% at one point and briefly losing the 5,500-point mark during intraday trading. Affected by rising U.S. Treasury yields and the weak first-day performance of a data center company's listing, foreign investors reduced their holdings of South Korean stocks, and institutional investors, including pension funds, also joined the selling, placing significant pressure on the market. As of press time, foreign investors had net sold 636.7 billion won in South Korea's securities market. Institutional investors also net sold 467 billion won, of which financial investment institutions net sold 241.8 billion won and pension funds net sold 159 billion won. Individual investors and other legal entities net bought 838.8 billion won and 261.6 billion won, respectively, in an attempt to support the index and limit its further decline. Eugene Investment & Securities analyst Huh Jae-Hwan said: "This selloff shows indiscriminate characteristics, with almost all stocks falling. The market appears very fragile." Even battery manufacturers, which had led the rebound on Monday, have now pulled back. (Jinshi)