KOSPI Breaks Below 6,000... Another Sell-Side Sidecar Triggered on Both Markets (Update)

Both Markets Plunge Over 5%
Heavy Retail Investor Sell-Off Erupts

Yonhap News Agency

As the KOSPI and KOSDAQ indices plunged during intraday trading, a temporary effect suspension (sidecar) was triggered for program sell orders in both markets. Fear-driven sell-offs of semiconductor stocks, including SK hynix, weighed heavily on the indices.

According to the Korea Exchange, a sell-side sidecar was triggered in the KOSPI market at 10:55 a.m. on the 29th, followed by another sell-side sidecar in the KOSDAQ market at 10:56 a.m. This was due to the KOSPI 200 futures index plummeting by 5.15% and the KOSDAQ 150 futures index dropping by 6.21% compared to the previous day.

As of 11:23 a.m. on the same day, the KOSPI stood at 5,706.72, down 5.26% from the previous day. The index attempted a rebound immediately after the opening, rising to the 6,220 level, but it started to plummet from around 10:28 a.m.

By investor type, foreigners and individuals were net sellers of 19.3 billion won and 1.8401 trillion won each, while institutions were net buyers of 1.8106 trillion won.

All of the top 10 KOSPI stocks by market capitalization experienced sharp declines. SK hynix, which had been climbing in early trading, dropped by 10.06% to 1,395,000 won. SK Square (-9.9%), Samsung Electro-Mechanics (-8.6%), Samsung Life Insurance (-6.8%), Samsung Electronics (-4.5%), Samsung Biologics (-3.6%), and LG Energy Solution (-3.3%) all posted losses across sectors.

At the same time, the KOSDAQ index also posted a 5.98% drop from the previous day, closing at 663.66. There was no noticeable upward momentum, and the market closely mirrored the KOSPI's steep decline.

In terms of market supply and demand, only foreigners were net buyers, purchasing 142.1 billion won worth of shares. Individuals and institutions were net sellers of 118.4 billion won and 27.6 billion won, respectively.

In the KOSDAQ market, with the exception of Pharmaresearch (-4.2%), all of the top 10 stocks by market capitalization fell. Most saw declines exceeding 5%, including Jusung Engineering (-9.9%), Ecopro BM (-7.4%), Ecopro (-7.0%), LIG Nex1 (-6.4%), and Alteogen (-5.4%).

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