[Closing Market] KOSPI Drops Below 7,000 on Foreigners' Selling
The domestic stock market, which opened on Oct. 6 right after the National Foundation Day holiday, saw the KOSPI index surrender the 7,000 mark in just one day as the weakness of large-cap semiconductor stocks coincided with heavy selling pressure from foreign investors. A flood of profit-taking ord
The KOSPI index fell below 7,000 on October 6, following the National Foundation Day holiday, as foreign investors sold heavily and large-cap semiconductor stocks weakened. The KOSDAQ market, however, surged nearly 3%, driven by the rise of secondary batteries, pharmaceuticals, biotechnology, and materials, parts, and equipment-related stocks.
Foreign investors were the primary cause of the KOSPI's decline, selling 1.7509 trillion won worth of stocks, while retail investors and institutional investors net bought 740.6 billion won and 1.1030 trillion won, respectively. Despite this, the KOSPI closed at 6,941.39, down 0.89% from the previous day, while the KOSDAQ index skyrocketed to 919.92, up 2.98%.
Brief written by urgent.news from BusinessKorea's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
