On November 5, the KOSPI deepened its losses, briefly dipping below the 3,900 level, as panic selling swept through the market following a sharp overnight decline in U.S. technology stocks. The KOSDAQ index also extended its slide.
As of 10:53 a.m., the benchmark KOSPI was trading at 3,926.86, down 194.88 points (4.73%) from the previous session. The index opened 66.27 points (1.61%) lower at 4,055.47, broke below the 4,000 mark early in the session, and fell as low as 3,867.81 before recovering slightly on bargain hunting.
In the main board (KOSPI) market, foreign investors offloaded 1.1543 trillion won worth of shares, dragging the index lower. Individuals and institutions were net buyers of 993.2 billion won and 205.7 billion won, respectively.
Foreign investors also sold 137 billion won in KOSPI 200 futures.
The sell-off came as domestic markets reacted to the overnight plunge in U.S. tech giants, including NVIDIA, amid renewed pressure on artificial intelligence (AI)-related shares.
A surge in the won-dollar exchange rate and profit-taking following recent strong rallies also accelerated selling pressure.
Among large-cap stocks, Samsung Electronics (005930) tumbled 6.58% to the 98,000-won range, while SK Hynix (000660) sank 7.17% to 540,000 won.
Other major decliners included LG Energy Solution (373220) (-3.91%), Hyundai Motor (005380) (-5.07%), Kia (000270) (-4.20%), Doosan Enerbility (034020) (-11.06%), and HD Hyundai Heavy Industries (329180) (-7.23%).
By sector, declines were widespread, led by electrical and electronics (-6.69%), transportation equipment (-6.35%), and machinery and equipment (-8.86%).
At the same time, the KOSDAQ fell 42.94 points (4.63%) to 883.63, after opening 7.29 points (0.79%) lower at 919.28.
Key decliners on the KOSDAQ included Alteogen (196170) (-5.10%), EcoPro BM (247540) (-5.13%), EcoPro (086520) (-6.27%), Rainbow Robotics (277810) (-10.82%), and Peptron (087010) (-5.34%).
Meanwhile, HLB (028300) rose 0.93%, and L&C Bio (290650) gained 0.52%.
The simultaneous plunge in both the KOSPI and KOSDAQ triggered sell-side sidecars — temporary halts on program trading — on both markets earlier in the morning.
It was the first time in roughly 15 months, since August 5, 2024, that sell-side sidecars were activated simultaneously on both exchanges, when concerns over a U.S.-led recession had sent Korean equities into a steep decline.
On November 5, the KOSPI deepened its losses, briefly dipping below the 3,900 level, as panic selling swept through the market following a sharp overnight decline in U.S. technology stocks. The KOSDAQ index also extended its slide.
As of 10:53 a.m., the benchmark KOSPI was trading at 3,926.86, down 194.88 points (4.73%) from the previous session. The index opened 66.27 points (1.61%) lower at 4,055.47, broke below the 4,000 mark early in the session, and fell as low as 3,867.81 before recovering slightly on bargain hunting.
In the main board (KOSPI) market, foreign investors offloaded 1.1543 trillion won worth of shares, dragging the index lower. Individuals and institutions were net buyers of 993.2 billion won and 205.7 billion won, respectively.
Foreign investors also sold 137 billion won in KOSPI 200 futures.
The sell-off came as domestic markets reacted to the overnight plunge in U.S. tech giants, including NVIDIA, amid renewed pressure on artificial intelligence (AI)-related shares.
A surge in the won-dollar exchange rate and profit-taking following recent strong rallies also accelerated selling pressure.
Among large-cap stocks, Samsung Electronics (005930) tumbled 6.58% to the 98,000-won range, while SK Hynix (000660) sank 7.17% to 540,000 won.
Other major decliners included LG Energy Solution (373220) (-3.91%), Hyundai Motor (005380) (-5.07%), Kia (000270) (-4.20%), Doosan Enerbility (034020) (-11.06%), and HD Hyundai Heavy Industries (329180) (-7.23%).
By sector, declines were widespread, led by electrical and electronics (-6.69%), transportation equipment (-6.35%), and machinery and equipment (-8.86%).
At the same time, the KOSDAQ fell 42.94 points (4.63%) to 883.63, after opening 7.29 points (0.79%) lower at 919.28.
Key decliners on the KOSDAQ included Alteogen (196170) (-5.10%), EcoPro BM (247540) (-5.13%), EcoPro (086520) (-6.27%), Rainbow Robotics (277810) (-10.82%), and Peptron (087010) (-5.34%).
Meanwhile, HLB (028300) rose 0.93%, and L&C Bio (290650) gained 0.52%.
The simultaneous plunge in both the KOSPI and KOSDAQ triggered sell-side sidecars — temporary halts on program trading — on both markets earlier in the morning.
It was the first time in roughly 15 months, since August 5, 2024, that sell-side sidecars were activated simultaneously on both exchanges, when concerns over a U.S.-led recession had sent Korean equities into a steep decline.