KOSPI and KOSDAQ market 'panic' ... Simultaneous circuit breakers for the first time ever
KOSPI and KOSDAQ market 'panic' ... Simultaneous circuit breakers for the first time ever
  • 박효선 기자
  • 승인 2020.03.13 17:11
  • 최종수정 2020.03.13 17:11
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KOSPI 3.43% and KOSDAQ 7.01% to close
KOSPI KOSDAQ Market Closes March 13. Photos: Korea Exchange
KOSPI KOSDAQ Market Closes March 13. Photos: Korea Exchange

[Infostock Daily= Reporter Park Hyo-sun] The KOSPI plunged for three consecutive trading days on the 13th, and the 1780 Line collapsed.

The KOSPI and KOSDAQ plunged 9% in the first hour of the market opening, and both circuit breakers and sidecars were activated.

The KOSPI closed at 1,771.44, down 62.89 points (▼3.43%) from the previous trading day.

The KOSPI index started at 1,722.68, down 111.65 points (▼6.09%) from the previous trading day, and the 1,690 line collapsed as the market fell more than 8 percent.

The KOSDAQ closed at 524.00, down 39.49 points (▼7.01%) from the previous trading day. The KOSDAQ index fell 26.87 points (▼4.77%) to 536.62, before falling in the market.

It is the first time in history that both circuit breakers and sidecars were activated on the KOSPI and KOSDAQ during the day.

The KOSPI and KOSDAQ markets have been stabilizing in the afternoon, with the agency increasing net buying, mainly pension funds.

In addition, the drop has also fallen sharply as news emerged that President Moon Jae-in held a special inspection meeting on economic and financial situations with Deputy Prime Minister Hong Nam-ki and the Bank of Korea Lee Ju-yeol.

On the same day, Deputy Prime Minister Hong Nam-ki, Bank of Korea Governor Lee Ju-yeol, Financial Services Chairman Eun Sung-soo and Financial Supervisory Service Chairman Yoon Seok-heon held an Emergency Macroeconomic Finance Conference to prepare additional measures following the overheating item designation system.

Financial Services Commission announced 'market stabilization measures' at 4 pm.

The Financial Services Commission banned short selling of KOSPI, KOSDAQ and CONEX markets for six months from March 16.

The ban on short selling is the first for eight years and seven months since August 2011.

In the KOSPI market, individuals net bought 442.9 billion won and institutions net bought 665 billion won, while foreigners sold 1.2393 trillion won.

By industry, paper wood (▼8.0%), transportation equipment (▼7.0%), machinery (▼6.9%), transportation warehouse (▼6.9%), steel metal (▼4.13%), and electric gas (▼5.34%) fell sharply.

Samsung Electronics fell to 7.78% in the market, while Samsung Electronics fell -1.67% in the afternoon. Hyundai Motor (▼8.21%), Samsung Bio Logics (▼5.49%), Samsung C&T (▼3.70%), LG Household & Health Care (▼1.72%), Celltrion (▼1.16%), Samsung SDI (▼0.89%), SK Hynix (▼0.36%), Naver (▼0.30%), LG Chem (▼0.29%) fell.

The KOSDAQ market plunged more than 8% in three minutes after the transaction began, and the circuit breaker was activated at 9:04 pm.

By industry, transportation (▼12.2%), paper and wood (▼11.1%), textile and clothing (▼10.7%), finance (▼9.8%), information equipment (▼9.8%), food and tobacco (▼9.0%), metal (▼8.9%), chemicals (▼8.5%), machinery equipment (▼8.2%), and pharmaceuticals (▼7.9%) fell sharply.

In the highest market capitalization, KMW (▼6.18%) fell the most, followed by Solbrain (▼5.59%), HLB (▼3.76%), SK Materials (▼2.91%), CJ ENM (▼2.72%), Celltrion Healthcare (▼1.98%), and Studio Dragon (▼0.57%). Only Hugel (▲2.57%) and Pearl Abyss (▲21.99%) rose on the day.

The won-dollar exchange rate in the Seoul foreign exchange market closed at 1,219.30 won per dollar, up 12.8 won (▲1.1%) from the previous day.

The won-dollar exchange rate rose 8.5 won to 1,215.0 won per dollar, up 19.5 won to 1226.0 won per dollar. The market record is the highest in four years since March 3, 2016 (1,227.0 won).

The won-dollar exchange rate has fluctuated more than 10 won a day for five consecutive trading days since the 9th.

Reporter Park Hyo-sun hs1351@infostock.co.kr


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