'Pandemic shock wave' KOSPI closes 3.87% plunge

[Infostock Daily= Reporter Park Hyo-sun] The Korean stock market was shocked by the World Health Organization's new Corona virus infection (Corona 19 or COVID-19) Pandemic Declaration.

He also grew further downside as he was disappointed with the announcement of US President Donald Trump's statement.

The KOSPI index fell 73.94 points (▼3.87%) to close at 1834.33 on 12th. The KOSPI started at 1887.97, down 20.30 points (▼1.06%) from the previous trading day, and recorded a 5% drop in the market.

Sidecars were launched in the KOSPI market on the same day. The Korea Exchange announced that the sale of the program in the securities market will be suspended for five minutes due to the drop in futures prices at 1:04:37 pm.

The sale sidecar was launched in the KOSPI market only about 8 years and 5 months after October 4, 2011 (9:06 am), the time of the European fiscal crisis.

In the KOSPI market, individuals net bought 537.3 billion won and institutions net bought 284.3 billion won, while foreigners sold net 797.2 billion won.

By industry, machinery (▼7.29%), medical precision (▼6.68%), construction (▼6.02%, chemical (▼5.64%), paper wood (▼5.52%), financial (▼5.03%), textile apparel (▼4.86%) showed a big decline.

Samsung Electronics (▼2.5%), SK Hynix (▼3.16%), LG Chem (▼4.93%), Celltrion (▼2.29%), Hyundai Motor (▼4.40%), Samsung SDI (▼3.63%), Samsung C&T (▼4.04%), Samsung Bio Logics (▼0.21%), Naver (▼2.06%) Celltrion (▼1.43%)fell in the top market capitalization.

The KOSPI decline was attributed to the stock market as a result of the lack of a large-scale stimulus package in President Trump's speech.

The Asian stock market, including Korea, also fell on the Korona 19 Pandemic Declaration, which was also affected by the Pandemic Declaration.

The KOSDAQ index closed at 563.49, down 32.12 points (▼5.39%) from the previous trading day. The KOSDAQ index started at 589.20, down 6.41 points(▼1.08%) from the previous day, and it has increased its decline throughout the day.

In the KOSDAQ market, foreigners net bought KRW148.2 billion, while individuals sold KRW68.6 billion and institutions sold KRW87.3 billion.

By industry, transportation (▼7.93%), telecom broadcasting (▼6.39%), construction (▼6.11%), IT hardware (▼6.35%), chemicals (▼5.18%), machinery and equipment (▼5.02%), and general electrical and electronic equipment (▼5.63%) fell sharply.

Celltrion Healthcare (▼0.3%), CJ ENM (▼7.05%), Pearl Abyss (▼5.07%), and Studio Dragon (▼5.94%), Eco Probm(▼0.38%) KM W (▼6.77%) SK Materials (▼5.68%) hugel (▼5.85%) fell. HLB, on the other hand, rose 2.65% from the previous trading day.

The won-dollar exchange rate in the Seoul foreign exchange market closed at 1,206.5 won per dollar, up 13.5 won (▼1.1%) from the previous day.

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