KOSPI Slides Over 3% After 7,900 Break as Foreigners Sell 3 Trillion Won

The KOSPI briefly broke above the 7,900 level for the first time during trading, moving close to the symbolic 8,000 mark, but it turned sharply lower as foreign selling intensified. The index fell by more than 3% as profit-taking followed its recent rapid rise. Foreign investors placed roughly 3 trillion won in sell orders, adding to market volatility. Although the intraday record lifted investor sentiment at first, heavy selling quickly reversed the upward momentum. With pressure from the short-term rally now evident, future supply and demand flows are set to remain a key factor for the index. Source: mk.co.kr.