KOSPI Plunges Below 2300 📉: A 17-Month Low!

The KOSPI (Korea Composite Stock Price Index) experienced a significant drop today, briefly falling below the 2300 mark during trading. As of 1:33 PM KST, the KOSPI is trading at 2292.21, a decrease of 42.02 points (1.80%) from the previous trading day. Earlier in the session, the index hit a low of 2289.07, representing a 1.93% decline.

This marks the first time the KOSPI has traded below 2300 since November 1, 2023, approximately 1 year and 5 months ago. If the KOSPI closes below 2300 today, it would be the first closing below that level since October 31, 2023, when it closed at 2277.99.

Foreign investors are contributing to the downward pressure, selling off ₩742.9 billion worth of shares in the Yuga Securities Market (the main board of the Korea Exchange). Should they continue this trend until the end of the day, it would mark their ninth consecutive day of net selling. Meanwhile, individual investors are net buyers, purchasing ₩797.3 billion worth of shares, while institutional investors are net sellers, offloading ₩152.6 billion worth of shares.

Most of the top companies by market capitalization are experiencing declines, with the entertainment/culture sector seeing the most significant drop at -5.36%.

The KOSDAQ (Korean Securities Dealers Automated Quotation), a technology-heavy stock market index in South Korea, is also down, trading at 641.99, a decrease of 16.46 points (2.50%) from the previous trading day.

Key Takeaways:

• KOSPI falls below 2300 for the first time in over a year.
• Foreign investors continue selling spree.
• Most major companies are experiencing declines.
• KOSDAQ also sees a significant drop.

Stay tuned for further updates as the trading day progresses! 📈📉