KOSPI Declines Narrowed, Pension Funds Buy 120 Billion Won in Stocks
The KOSPI briefly erased its maximum decline of 3.6% and is now down 0.1%. Roy Lim, a stock sales trader at Samsung Securities, stated that pension funds significantly bought KOSPI constituent stocks in the late trading session, focusing on the technology sector, with a net purchase of 120 billion won in stocks within 20 minutes. The stock prices of Samsung Electronics and SK Hynix are basically flat after both had previously dropped over 4%, recovering their losses. Retail investors net bought 785 billion won in KOSPI stocks, while foreign investors net sold 931 billion won. The decline of the KOSDAQ index for small-cap stocks narrowed from an earlier 4% to about 0.8%.
-- Price
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