The KOSPI plunged more than 3 percent Monday as Samsung Electronics and SK hynix shares weakened in Seoul. The benchmark index closed at 6,696.96, down 215.99 points, while foreign investors sold a net 3.69 trillion won and institutional investors sold 1.29 trillion won. Retail investors bought 3.32 trillion won, and the won strengthened to 1,382.4 per dollar. The KOSDAQ closed higher at 813.33.
A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the closing prices of the KOSPI, Samsung Electronics and SK hynix, Monday. The KOSPI closed at 6,696.96, down 215.99 points, or 3.12 percent, from the previous session, while Samsung Electronics and SK hynix shares fell 8.70 percent and 3.41 percent, respectively. Yonhap
The KOSPI fell more than 3 percent Monday as weakness in Samsung Electronics and SK hynix weighed on the broader market, reversing gains posted over the previous two sessions on expectations that the two semiconductor heavyweights would boost shareholder returns.
The benchmark index opened 31.88 points, or 0.46 percent, lower at 6,881.07 before extending its losses to close at 6,696.96, down 215.99 points, or 3.12 percent.
Foreign investors led the selling, offloading a net 3.69 trillion won ($2.67 billion) worth of KOSPI shares, while institutional investors sold 1.29 trillion won. Retail investors bucked the trend with net purchases of 3.32 trillion won, cushioning the market’s losses.
