KOSPI barely holds 5000, fails to regain momentum
KOSPI struggled to regain its footing Monday after plunging more than 11 percent last week. The benchmark index barely held above the 5,000 mark, underscoring the volatility that has gripped the market since concerns over tighter U.S. artificial intelligence (AI) regulation rattled semiconductor stocks following the Democrats’ sweeping midterm election victory on Nov. 3. The index opened at…
The KOSPI index managed to stay above the 5,000 mark on Monday, but failed to regain momentum after a steep 11% drop last week. The market's volatility has been on the rise since the Democrats' victory in the November midterms, which raised concerns about stricter U.S. artificial intelligence (AI) regulation. The index started the day at 5,043.20, falling 0.5% from the previous close, reported the Korea Exchange.
Institutional investors and a slight rebound in semiconductor giants helped the index briefly cross the 5,100 threshold during the trading session. However, foreign investors' selling pressures dragged the KOSPI down once more, ending the day at 5,018.85, a 0.81% decline. Institutions bought a net 719 billion won ($533.26 million), while foreign and retail investors collectively sold a net 658 billion won and 511 billion won, respectively.
Shares of South Korea's top two semiconductor companies, SK hynix and Samsung Electronics, saw a modest increase. SK hynix rose 0.35% to 1.14 million won, and Samsung Electronics climbed 0.64% to close at 189,900 won.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- KOSPI barely holds 5000, fails to regain momentum koreatimes.co.kr
