KOSPI Plunges to 6,600 Level... KOSDAQ Hit by Sell-Side Sidecar Trigger

KOSPI Hit by 3 Trillion Won in Net Individual Selling
KOSDAQ Down Sharply on Weakness in Biotech Stocks

On July 14, the KOSPI reversed into a downward trend during the session, falling back to the 6,600 level. Although it initially opened lower and briefly turned upward, selling pressure, especially in large-cap stocks, continued into the afternoon, maintaining a weak tone. The KOSDAQ also saw a deepening decline due to a sharp plunge in biotech stocks, triggering a sell-sidecar during the session.

As of 1:30 p.m. on this day, the KOSPI index was trading at 6,693.36, down 113.5 points (1.67%) from the previous trading day. The KOSPI started at 6,769.06, down 37.87 points (0.56%), and although it temporarily moved into positive territory during the session, it later turned downward again. In terms of market flows, foreign investors made a net purchase of 152.6 billion won, institutions bought a net total of 2.9543 trillion won, but individual investors sold a net 3 trillion won, shaking up the index.

By sector, transportation equipment & components (-4.58%), securities (-3.95%), machinery & equipment (-3.36%), and construction (-3.32%) showed notable weakness.

On the 14th, employees are monitoring the stock market and exchange rates in the dealing room of the Headquarters of Hana Bank in Jung-gu, Seoul. Photo by Jo Yong-jun

Among the top KOSPI stocks by market capitalization, Hana Financial Group (up 2.56%), Samsung Electronics (up 2.16%), Samsung Electronics Preferred Shares (up 1.64%), and Shinhan Financial Group (up 0.92%) were on an upward trend. In contrast, Hyundai Motor Company (down 6.64%), Hanwha Aerospace (down 6.41%), and Samsung Electro-Mechanics (down 6.28%) saw significant declines. Hyundai Mobis (down 4.82%), SK hynix (down 4.12%), SK Inc. (down 4.12%), Doosan Enerbility (down 4.10%), HD Hyundai Heavy Industries (down 3.90%), Samsung C&T (down 3.74%), Samsung Life Insurance (down 3.37%), Samsung Biologics (down 2.93%), and Kia (down 1.67%) also remained weak.

At the same time, the KOSDAQ index was at 762.54, down 36.82 points (4.61%) compared to the previous trading day. The KOSDAQ had started at 797.16, down 2.20 points (0.28%), but its losses deepened significantly as the session progressed. Foreign investors recorded a net selling of 177 billion won, while institutions and individual investors bought a net 98 billion won and 67.5 billion won, respectively.

In the afternoon, the KOSDAQ market continued to weaken by over 5%, triggering a sell-sidecar during the session. The sell-sidecar for the KOSDAQ is activated when the KOSDAQ150 futures price drops by more than 6% from the reference price and the KOSDAQ150 index falls by more than 3% compared to the final figure of the previous trading day, with both conditions sustained simultaneously for one minute.

Among the leading KOSDAQ stocks by market capitalization, Jusung Engineering (up 0.58%) and PSK (up 0.11%) showed slight gains. On the other hand, Alteogen plunged 18.33%, leading the index downward. Kolon TissueGene (down 12.53%), LegoChem Biosciences (down 11.92%), and ABL Bio (down 10.24%) also posted double-digit declines. Ecopro (down 6.94%), Eugene Technology (down 6.86%), Rainbow Robotics (down 6.39%), Ecopro BM (down 6.34%), PharmaResearch (down 6.20%), and Samchundang Pharm (down 5.08%) also performed weakly.

This content was produced with the assistance of AI translation services.