[Closing Market] KOSPI Barely Holds 5,018 Amid Heavy Foreign Selling
Entering the beginning of the week without fully recovering from the shock of last week’s severe market crash, the domestic stock market on Nov. 9 closed weaker after repeated intraday volatility. The KOSPI index attempted to rebound by recovering to the 5,172 level during the session, but ultimatel
On November 9, the KOSPI stock market in South Korea closed at 5,018.85 points, experiencing a slight decline of 40.84 points (0.81%) from the previous trading session. The market had initially rebounded to 5,172 before reversing course due to heavy selling pressure from foreign investors. This foreign selling, combined with profit-taking and stop-loss orders from individual investors, pushed the index back to around 5,010.
The KOSDAQ index also mirrored the downward trend, closing at 638.97, down 5.30 points (0.82%) from the prior day. The decline in the KOSPI was fueled by a massive 693 billion won (approximately $514.5 million) net selling by foreigners, marking seven consecutive days of foreign selling. Despite a brief surge in buying interest from bargain-hunting tech stocks in the New York market, the overall trend remained negative.
Major stocks such as Samsung Electronics and SK hynix managed slight gains, but these were insufficient to curb the broader market contraction. Institutional investors attempted to support the market by net buying 720.4 billion won, while individual investors recorded a net selling of 488.7 billion won. The KOSDAQ market also faced selling pressure, with institutions buying 107.5 billion won while foreigners and individuals collectively net sold 75.9 billion won and 39.6 billion won, respectively.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
