KOSPI and KOSDAQ triggered sell-side circuit breakers on the 24th, marking the fifth consecutive trading day with such volatility measures. KOSPI fell 5.61% to 6699.03 as of 12:55 PM, while KOSDAQ dropped 2.75% to 768.57 after its circuit breaker activated at 11:47 AM. Foreign investors sold 2.2663 trillion won on KOSPI and 183.6 billion won on KOSDAQ, driving the declines despite retail buying. The article cites rising international oil prices and interest rate pressures as contributing factors, though no specific data on these external conditions is provided.
KOSPI Records 5.61% Drop with Foreign Outflows
KOSPI traded 397.86 points lower at 6699.03 as of 12:55 PM on the 24th. Retail investors purchased 3.6423 trillion won, but foreign investors and institutions sold 2.2663 trillion won and 1.4006 trillion won respectively. The sell-side circuit breaker activated at 11:23:49 AM when the mini KOSPI 200 futures fell 5.04% to 1070.80 from the reference price of 1127.68 points.
Among the top 10 stocks by market capitalization, Samsung Electronics fell 7.59%, SK Hynix dropped 7.35%, SK Square declined 8.11%, Samsung Electronics preferred shares fell 6.38%, Samsung Electro-Mechanics dropped 8.36%, Hyundai Motor fell 8.45%, LG Energy Solution declined 5.46%, Samsung Life Insurance fell 5.31%, and KB Financial dropped 4.59%. Samsung Biologics rose 10.22%.
This week (20th to 24th), KOSPI circuit breakers triggered four times: sell-side on the 20th, buy-side on the 21st, buy-side on the 22nd, and sell-side on the 24th. The 24th marked the 21st sell-side circuit breaker and 41st total circuit breaker (including 20 buy-side triggers) in the current year.
KOSDAQ Falls 2.75% as Circuit Breaker Activates
KOSDAQ traded 21.71 points lower at 768.57. Retail investors bought 429.7 billion won, while foreign investors and institutions sold 183.6 billion won and 242.1 billion won respectively.
The sell-side circuit breaker activated at 11:47 AM on the 24th. At the trigger point, KOSDAQ 150 futures stood at 1273.30 points, down 6.09% from the previous trading day's close of 1356 points. The KOSDAQ 150 index fell 5.90% to 1268.02 points from 1347.62 points.
Among the top 10 stocks by market capitalization, only HLB rose 0.67%. The remaining stocks declined. This marked the 11th sell-side circuit breaker and 25th total circuit breaker (including buy-side triggers) on KOSDAQ in the current year. The 24th was the second sell-side circuit breaker for KOSDAQ this week, following the 20th.
Won-Dollar Exchange Rate Moves to 1463.40
The won-dollar exchange rate in the Seoul foreign exchange market traded at 1463.40 won, down 13.10 won (0.89%) from the previous trading day.
FAQ
What triggered the circuit breakers on Korean stocks on the 24th?
Sell-side circuit breakers activated on both KOSPI (at 11:23:49 AM) and KOSDAQ (at 11:47 AM) on the 24th. Foreign investors sold 2.2663 trillion won on KOSPI and 183.6 billion won on KOSDAQ, driving index declines of 5.61% and 2.75% respectively despite retail buying.
How many consecutive trading days have Korean stocks experienced circuit breakers?
The 24th marked the fifth consecutive trading day with circuit breaker activations (including both buy-side and sell-side triggers). This week alone (20th to 24th), KOSPI triggered four circuit breakers and KOSDAQ triggered two sell-side circuit breakers.
Which major Korean stocks declined the most on the 24th?
Among KOSPI's top 10 stocks by market capitalization, Hyundai Motor fell 8.45%, Samsung Electro-Mechanics dropped 8.36%, SK Square declined 8.11%, Samsung Electronics fell 7.59%, and SK Hynix dropped 7.35%. Samsung Biologics was the only gainer, rising 10.22%.
