‘Game Stop Shock’ KOSPI 3,000 line collapsed… Accelerated withdrawal from hedge funds


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The KOSPI fell below the 3,000 line in 16 trading days, unable to withstand the sale of foreigners and institutions. Although individual investors net bought 1.7 trillion won, it was not enough to support the index. It is analyzed that hedge funds’ withdrawal from funds was accelerated as the global stock market volatility increased due to the US game stop. Connect with reporters to learn more about the market closing situation. Reporter Park So-young!

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Yes, KOSPI closed the deal at 2,976.21, down 3.03% (392.84 points) due to the selling tax of foreigners and institutions.

It fell below 3,000 for the first time after breaking the 3,000 line on the 7th.

It rebounded after 3 trading days on the back of personal buying at the beginning of the market, but turned downward as foreign and institutional sales poured out.

In the securities market, individuals net bought 1.79 trillion won, while foreigners and institutions sold 1.43 trillion won and 253.6 billion won, respectively.

While the top 10 companies by market capitalization have not escaped the weakness,
In particular, Samsung Biologics and Samsung SDI plunged 5.37% and 4.30%, respectively.

KOSDAQ also closed at 928.73, down 3.38% (32.50 points) due to sales by institutions and foreigners.

Experts are showing the view that the KOSPI fell below the 3,000 line as the global hedge fund increased its selling rate.

As the supply and demand instability widens due to controversy over the short selling of game stop, hedge funds
It is an analysis that the share of stocks is decreasing.

The real market believes that hedge funds with short gamestop positions will have to forcibly sell other stocks to make up for massive losses.

Seo Sang-young, a researcher at Kiwoom Securities, said, “It seems that global hedge funds, which have led the rapid rise in the global stock market since last November, are selling for reasons such as profit-taking sales, increased volatility, and delayed vaccination.” There is,” he explained.

This is Money Today broadcaster Park So-young.

Park So-young, Money Today Broadcasting MTN reporter

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