 |
View of Korea Exchange. (Photo= Korea Exchange) |
[Alpha Biz= Reporter Kim Sangjin] Foreign investors' selling spree has been weighing down the KOSPI index, leading it below a market capitalization of 2,000 trillion KRW. On December 5, foreign investors sold stocks worth approximately 7 trillion KRW over the past two trading days, pushing the total market cap below 2,000 trillion KRW again.
According to the Korea Exchange, the KOSPI ended the day at 2,441.85, down 22.15 points (0.90%) from the previous day. After starting strong, the index turned negative as foreign selling intensified, deepening its losses throughout the session. At one point, the index briefly fell below the 2,440 mark.
Despite retail investors and institutions buying a combined 2.2 trillion KRW worth of stocks, foreign investors continued their sell-off, unloading 3.2 trillion KRW worth of shares. In total, foreign investors sold 7.25 trillion KRW in stocks over the last two days, coinciding with concerns over domestic market conditions, the rising exchange rate, and increasing political uncertainty surrounding the impeachment process.
As of the market close, the exchange rate had risen by 5.0 KRW to 1,415.1 KRW per USD.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
