[Closing Market] KOSPI Falls Slightly to Mid-5,340 Range on Institutional Selling
The domestic stock market on Nov. 12 eventually closed weak, as fatigue from the recent steep short-term rise and a flood of profit-taking volume from institutions facing the November options expiration day outweighed the tailwind of a tech stock rebound in the U.S. New York stock market. The KOSPI
The KOSPI stock index fell slightly to the mid-5,340 range on November 12, 2021, due to institutional selling and profit-taking from investors facing the November options expiration day. Despite a tech stock rebound in the U.S., the KOSPI dropped to 5,342.73, down 0.61% from the previous day. The KOSDAQ index also declined to 696.53, a 1.22% drop from the prior day, failing to reach the 700 mark.
Foreigners continued to net purchase 370.5 billion won, while institutions net sold 691.1 billion won. Large-cap stocks like Samsung Electronics and SK hynix faced profit-taking pressure, while smaller-cap companies such as Samsung Biologics and Celltrion saw a rise in value. The won/dollar exchange rate remained stable in the 1,330 won range, with no significant fluctuations.
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