[Breaking News] KOSPI Triggers Sell-Side Circuit Breaker for First Time in Over Two Months… Plummets Over 5%
KOSPI Plummets 5.17% to 6,053; Sell-Side Circuit Breaker Triggered at 9:47 a.m.
Foreign Investors Continue Net Selling of 987.6 Billion, Sharp Decline Led by Semiconductors Deepens
SK hynix Down 7.73%, SKSQUARE Down 9.55%; Top-Market-Cap Stocks Plunge Across the Board
[Edaily Reporter kyoungeun kim ] On the 13th, the KOSPI extended its losses amid the fallout from the shock caused by Chinese memory chip maker CXMT, triggering the sell-side circuit breaker. The downward trend appears to be intensifying, with the KOSPI slipping to the low 6,000s. On the 13th, the won/dollar exchange rate, the KOSPI, and the KOSDAQ indices are displayed on an electronic board in the trading room at Hana Bank’s headquarters in Jung-gu, Seoul. The KOSPI fell by 2–3% early in the session, marking its fifth consecutive trading day of declines. As of 9:01 a.m., the KOSPI stood at 6,198.46, down 185.78 points (2.91%) from the previous day. The decline subsequently widened to the 4% range. (Photo = Yonhap News) According to MP Doctor, as of 10:02 a.m. today, the KOSPI is trading at 6,053.97, down 330.27 points (5.17%) from the previous day.
While retail investors are net buying 537.4 billion won and institutional investors are net buying 360.7 billion won, foreign investors are net selling 987.6 billion won, increasing downward pressure on the index. By stock, 146 are up, 27 are unchanged, and 737 are down, with declining stocks overwhelmingly dominating the market.
Earlier, at 9:47:58 a.m., the price of the nearest-month Mini KOSPI 200 futures contract—which uses the KOSPI 200 as its underlying asset—fell to 955.02 points, a 5.08% drop from the reference price (1,006.22 points), and remained at that level for one minute, triggering the sell-side sidecar. This is the first time a sell-side sidecar has been triggered on the KOSPI market in about two months, since August 19.
This marks the 50th time a sidecar has been triggered this year (26 sell-side and 24 buy-side triggers). Following the trigger, the validity of sell orders from program trading was suspended for five minutes before automatically being lifted. At the time of the trigger, the net sell volume from program trading reached 622 billion won.
Looking at individual stocks, SamsungElectronics(005930), the company with the largest market capitalization, is trading at 235,000 won, down 6.19%, while SK hynix(000660), the second-largest, is trading at 1,481,000 won, down 7.73%.
Among the declining stocks, SKSQUARE(402340)(9.55%), SamsungElectroMechanics(009150)(7.13%), HyundaiMotor(005380)(5.94%), SamsungElectronics(1P)(005935)(5.35%), Samsung Life Insurance(032830)(5.05%), LG Energy Solution(373220)(2.39%), KB Financial Group(105560)(1.54%), and SAMSUNG BIOLOGICS(207940)(1.17%)—essentially all of the top-market-cap stocks—plummeted across the board.
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