KOSPI Rebounds to 5,200 After Nearly Breaking Below 5,000
KOSDAQ Temporarily Falls Below 1,000
The KOSPI, which had dropped to the brink of falling below the 5,000 mark during trading, rebounded to the 5,200 range. KOSDAQ also recovered above the 1,000 mark.
As of 1:33 p.m. on March 4, the KOSPI stood at 5,241.38, down 9.51% from the previous day. During the session, it fell as low as 5,059.45, putting the 5,000 level at risk, but quickly rebounded.
Institutional investors are absorbing the selling pressure from individuals and foreign investors. Foreign investors have recorded net sales of 1.0797 trillion won, while institutions have net purchased 879.5 billion won. Individuals are also net sellers, with 25.2 billion won in net sales.
The top 10 stocks by market capitalization are struggling to rebound. Several stocks have posted double-digit declines, including Doosan Enerbility (-14.8%), Hyundai Motor Company (-14.6%), Kia Corporation (-12.8%), and HD Hyundai Heavy Industries (-11.8%). Samsung Electronics (-9.9%), SK hynix (-7.8%), LG Energy Solution (-9.2%), Samsung Biologics (-8.9%), and Hanwha Aerospace (-8.4%) have also all continued downward trends.
At the same time, the KOSDAQ was trading at 1,021.34, down 10.23% from the previous day. As the morning decline continued, the index fell to as low as 976.54 as of 12:36 p.m. before rebounding and maintaining a level above 1,000.
In the KOSDAQ market, foreign and institutional investors are absorbing the selling volume from individuals. Individuals have recorded net sales of 1.0339 trillion won, while foreign investors and institutions have net purchased 565.1 billion won and 466.5 billion won, respectively.
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Most of the top 10 KOSDAQ stocks by market capitalization have posted double-digit declines. Major drops were seen in ABL Bio (-14.4%), Ecopro (-14.3%), Caregen (-13.7%), Ecopro BM (-13.1%), LegoChem Biosciences (-12.7%), Rainbow Robotics (-12.5%), HLB (-12.1%), Samchundang Pharm (-11.6%), and Alteogen (-10.3%). Even RENO Industrial, which was the only stock to rise early in the session, reversed course to finish down 4.1%.
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