Foreign investors were net sellers of 2.7 trillion won worth of shares in the domestic stock market on the 14th. It was the largest amount since May 2021.
According to the Korea Exchange (KRX), based on the regular session that day, foreign investors sold a net 2.6864 trillion won in shares in the main board and KOSDAQ markets. It was the highest since May 12, 2021 (2.8735 trillion won).
Foreign investors alone were net sellers of 2.3667 trillion won on the main board. Even on the main board, it was the largest supply since Aug. 13, 2021 (2.6990 trillion won).
The KOSPI closed at 4,011.57, down 3.8% from the previous session on a sharp overnight drop in U.S. stocks and concerns about overvaluation of artificial intelligence (AI). The KOSPI had risen for four sessions since the 10th but ended lower for the first time in five sessions.
Weakness in large semiconductor stocks stood out in particular. SK hynix and Samsung Electronics plunged 8.50% and 5.45%, respectively. Doosan Enerbility also fell more than 5%. LG Energy Solution (-4.44%) and KB Financial Group (-3.00%) also declined.
The KOSDAQ also fell back below the 900 level for the first time in three sessions. The KOSDAQ closed at 897.90, down 20.47 points (2.23%) from the previous session.
Lee Jae-won, an analyst at Shinhan Investment & Securities, said, "The KOSPI fell on the day on profit-taking and controversy over AI overvaluation in large semiconductor stocks," and added, "Every time profit-taking supply emerged, steady net buying by retail investors supported the lower end of the index."