[Closing Market] KOSPI Falls Slightly to 5,290 Range After Foreigners Turn to Selling
On Nov. 13, the domestic stock market started with a sharp rally in early trading driven by the inflow of low-end buying in the global artificial intelligence (AI) semiconductor sector, but closed mixed, giving up all intraday gains as a combination of factors including supply chain uncertainties fo
On November 13, South Korea's KOSPI stock market experienced a slight decline, closing at 5,290.53 points, or 0.98% lower than the previous trading day's closing at 5,342.73. The market began with a sharp rally early in the day, driven by low-end buying in the global AI semiconductor sector. However, foreign investors, who had been net buyers for three consecutive days, turned to massive net selling during the session, leading to the index decline.
The KOSDAQ index, on the other hand, closed slightly higher at 699.66 points, up 0.45% from the previous trading day. The KOSPI's fluctuation range during the session was 245.35 points, with 451 stocks rising, 420 falling, and 41 closing flat. The decline in the KOSPI was primarily attributed to foreign investors' decision to sell, as they had driven the index surge in the early trading session by recording net purchases of approximately 300 billion won.
The U.S. 10-year Treasury bond yield and international oil prices also spiked, adding to the downward pressure on risky assets.
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