From BigGo Finance · BigGo Finance · · 2m
South Korea's KOSPI Retreats to 5,600
South Korea's KOSPI drops to 5,600 after 7-day decline as foreign investors sell 18 trillion won.
In brief
South Korea's KOSPI drops to 5,600 after 7-day decline as foreign investors sell 18 trillion won. South Korea's KOSPI retreated to 5,600 for the first time in two and a half months as foreign investors sold 18 trillion won, but the market shows signs of stabilization. Originally reported by BigGo Finance.
KOSPI Retreats to 5,600
South Korea's KOSPI has retreated to the 5,600 level for the first time in two and a half months.
Foreign Investors Sell 18 Trillion Won
Foreign investors' cumulative net selling has swelled to approximately 18 trillion won (approximately $13.5 billion).
Mechanical Selling Pressure Diminished
Mechanical selling pressure from leveraged products has diminished significantly compared to July's crash.
Buyback Programs Ended
Samsung Electronics completed its share buyback program early on the 6th, and SK Hynix's buybacks are now in their final stages.
Retail Investors Buy 7 Trillion Won
Retail investors bought approximately 7 trillion won (approximately $5.3 billion) of Samsung and SK Hynix stocks.
KOSPI Plunged 7.57% on 15th
The KOSPI plunged 454.59 points (7.57%) to close at 5,554.22 on the 15th, triggering circuit breakers.
KOSPI 200 Volatility Index Drops
The KOSPI 200 Volatility Index (VKOSPI) dropped from 87.79 to 48.89, indicating reduced market fear.
Won-Dollar Exchange Rate Stabilized
The won-dollar exchange rate fell from 1,446.7 won to 1,331.4 won, a decline of more than 100 won.
Foreign Investors Turn Net Buyers
Foreign investors turned net buyers on the 16th with approximately 340 billion won (approximately $255.7 million) in net purchases.
AI Investment Concerns
Concerns over AI investment costs and Chinese memory chipmakers catching up fueled the sell-off.
U.S. Inflation Shock
The U.S. Labor Department reported September's CPI rose 3.7% year-over-year, exceeding market expectations.
Earnings Releases to Come
Third-quarter earnings releases from major U.S. technology companies and South Korean semiconductor firms are key inflection points.
Korean Market Stabilizing
The market shows signs of stabilization as foreign selling slows and retail investors buy semiconductor stocks.
The essence
South Korea's KOSPI retreated to 5,600 for the first time in two and a half months as foreign investors sold 18 trillion won, but the market shows signs of stabilization.
