KOSPI Rebounds After 7% Plunge; Foreigners Maintain Sell-Off

[Anchor]

After plunging by over 7% yesterday (October 15), both the KOSPI and KOSDAQ are rising today. The KOSPI had fallen for seven consecutive sessions, marking its longest losing streak in two years, and foreign investors continue to sell off their holdings today.

Here is reporter Jeong Seong-jin.

[Reporter]

The KOSPI opened up 1.8% at 5,653 today.

Expanding its gains to around 3.4% during the intraday session, the KOSPI is recording an increase of around 3% as of 11:30 AM.

Individuals and institutions combined are leading the KOSPI's rise with a net purchase of around 100 billion won.

On the other hand, foreigners are maintaining a selling advantage of over 300 billion won today, continuing their selling streak for the ninth consecutive session.

The upward trend in the KOSPI is attributed to the U.S. New York stock market's three major stock indices closing higher across the board overnight.

The Dow Jones Industrial Average rose 1%, while the S&P 500 and Nasdaq also closed slightly higher, albeit in the 0% range.

However, semiconductor-related stocks, where concerns over AI infrastructure investment have not been resolved, mostly showed a weak trend.

The KOSPI plunged by over 7% the previous day, falling below the 6,000 mark to record the 5,500 range.

Following a sell sidecar, even a circuit breaker was triggered, leading to continued panic selling.

With a seven-consecutive-session decline, after hitting the 7,000 mark on October 2, it gave back 1,500 points in less than half a month.

Although it turned upward today, it is analyzed that bargain-hunting buying flowed in due to the recent sharp drop rather than a full recovery in investment sentiment.

In particular, as foreign selling shows little sign of subsiding, whether the rebound will continue in the future is expected to depend on foreign supply and demand and the trends of the U.S. stock market.

The KOSDAQ, which also plunged by over 7% yesterday, opened higher today, rising 1.49% to 772, and is currently maintaining an increase of around 4%.

(Video Editing: Won Hyung-hee)
※ Please note: This article was translated by AI and may contain errors.