On the 29th, KOSPI showed a sharp decline of over 3% during the week.
As of 3:05 pm on this day, the KOSPI recorded 2,990.12, down 78.93 points (-2.57%) from the previous day.
The index started at 3,078.73, up 9.68 points (0.32%) from the battlefield, and rose more than 1% during the week, but it reversed in the morning.
In the afternoon, it lowered the low to 2,962.70 while giving out the index of 3,000, raising the drop to 3%.
At the same time, foreigners led a plunge this day by net selling 84.8 billion won in the securities market.
The institution also sold 472 billion won.
On the other hand, individuals defended against further declines in the index by net buying 1.377 trillion won.
Asian markets also showed a downtrend.
At the same time, Japan’s Nikkei 225 index fell 1.9%, and Taiwanese family index fell 1.8% each.
The Standard & Poor’s (S&P) 500 futures index also fell 1.3% from the battlefield, reflecting the expansion of hedging in the global financial market.
Samsung Securities’ investment information team leader Jung Myung-ji said, “Amid the market negatives triggered by the US such as the game stop incident, which led to foreigners’ profit-taking and selling, domestic supply and demand could not handle this.” Seems to be,” he said.
Lee Jae-sun, a researcher at Hana Financial Investment, said, “This week has produced a market that is sensitive to liquidity not only in Korea but also in the world. It seems that the US Federal Reserve has failed to deliver a clear signal to the stock market, and the People’s Bank of China also sent a tightening signal. “Isn’t it?” he said.
He said, “Because Korea was a large-capitalized country among global stock markets as well as emerging markets, the price burden compared to corporate profits was considerable,” he said. “Because the valuation (valuation value) burden was high, it seems to have received a lot of adjustments.”
Seo Sang-young, a researcher at Kiwoom Securities, said, “Global hedge funds are rapidly reducing their exposure to stocks in response to the recent rapid increase in volatility. It seems that they are selling for reasons such as profit-taking, increased volatility, and delayed vaccination. It is worth paying attention to whether the trend will continue.”
/yunhap news
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