KOSPI Falls to 7,640 as Retail Buyers Step In After Foreign Selling

Foreign investors launched a large round of profit-taking focused on semiconductor and automobile stocks, pushing the KOSPI down to the 7,640 level. During the decline, individual investors reportedly treated the correction as a buying opportunity and moved to accumulate shares. The original report said foreign selling was concentrated in key leading sectors, while retail investors responded with bargain buying amid expectations for further index gains. KB Securities assessed the SK Hynix-related move as being only a preview of what may come. Market attention is now on the size of foreign profit-taking and the strength of retail buying as key short-term supply-and-demand factors. Source: mk.co.kr