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[Closing Market] KOSPI Barely Holds 6,700 As Semiconductors Tumble

On Aug. 28, the domestic stock market closed with a massive decline, failing to withstand the bombardment of simultaneous selling by foreign and institutional investors.Amid heightened wait-and-see…

  • KOSPI index fell to 6,788.88, down 1.79% on August 28
  • Foreign investors targeted semiconductor stocks, Samsung Electronics and SK hynix
  • Market decline attributed to foreign and institutional selling volumes overwhelming retail investors

Foreign Currency Deposits Hit Record High in July

As the inflow of export and current account payments from large conglomerates coincided with foreign currency funding by securities firms, dollar deposits of domestic residents hit an all-time high…

  • July saw record $128.34 billion in foreign currency deposits in Korea.
  • $15.01 billion increase from June, second-largest monthly rise ever.
  • Companies' dollar deposits rose $10.11 billion in July.

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