KOSPI Falls Below 2400 Amid Multiple Adversities... USD/KRW Exchange Rate Surpasses 1480

USD/KRW Exchange Rate Hits Post-Financial Crisis High

Foreign Investors Turn to 'Sell' Stance in a Day

The KOSPI index expanded its intraday decline, falling below the 2400 mark. This is attributed to the accelerated withdrawal of foreign investors as the USD/KRW exchange rate soared to levels reminiscent of the global financial crisis amid political instability.

As of 11:06 AM on the 27th, the KOSPI index recorded 2393.51, down 36.16 points (1.49%) from the previous trading day. The index started the day with a 0.42% drop and continued to widen its decline. It fell below the 2400 mark for the first time in about a week since the 20th of this month.

In the stock market, foreigners and institutions are leading the decline by selling 157.6 billion KRW and 129.9 billion KRW worth of stocks, respectively. In contrast, only individuals are buying, with a net purchase of 252.6 billion KRW.

Most of the top market cap stocks are on a downward trend. Samsung Electronics, LG Energy Solution, Samsung Biologics, Hyundai Motor, Kia, Celltrion, KB Financial Group, Naver, HD Hyundai Heavy Industries, Shinhan Financial Group, and Hyundai Mobis are declining, while only SK Hynix is rising.

The KOSDAQ index is also down, recording 666.51, a decrease of 9.13 points (1.35%) from the previous day.

In the KOSDAQ market, foreigners and institutions are selling 48 billion KRW and 99.7 billion KRW worth of stocks, respectively. Only individuals are net buying, with a purchase of 152.7 billion KRW.

Among the top KOSDAQ market cap stocks, EcoPro BM, EcoPro, LIG ChemBio, Samchundang Pharm, Hugel, Shinsung Delta Tech, Classys, Lino Corporation, Rainbow Robotics, and PharmaResearch are declining, while Alteogen and HLB are rising.

On this day, the USD/KRW exchange rate opened at 1467.5 KRW, up 2.7 KRW from the previous day in the Seoul foreign exchange market. The intraday USD/KRW exchange rate then surpassed 1480 KRW. This is the highest level in 15 years and 9 months since March 16, 2009, during the global financial crisis.

Jang Seok-kyung, Hankyung.com Reporter jsk@hankyung.com