finance
KOSPI Falls 8.95 Percent to 6,806.93 After 20-Minute Circuit-Breaker Halt
Seoul's benchmark index fell 669 points on July 13 amid heavy selling in technology stocks. A 20-minute trading halt marked the seventh circuit breaker activation this year.
Jul 13, 3:31 AM·1m read1 source
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The KOSPI closed at 6,806.93 on July 13 after dropping 669.01 points, or 8.95 percent, Yonhap reported. The index touched an intraday low of 6,783.43 before recovering modestly. Trade volume reached 469.86 million shares valued at 39.8 trillion won, or $26.5 billion.
Decliners outnumbered gainers 713 to 179. Institutions sold a net 2.22 trillion won of shares while foreigners sold a net 1.7 trillion won. Individuals bought a net 3.9 trillion won. A circuit breaker halted trading of KOSPI-listed stocks for 20 minutes after the index opened 0.85 percent lower and extended losses.
The activation was the seventh of the year. Samsung Electronics shares closed at 254,500 won, down 10.7 percent. SK hynix shares fell 15.37 percent to 1,845,000 won. Hyundai Motor declined 2.95 percent to 444,000 won and Hanwha Aerospace dropped 3.21 percent to 936,000 won.
LG Energy Solution shares rose 0.77 percent. SK Innovation gained 7.09 percent to close at 110,200 won. The Korean won traded at 1,503.4 per U.S. , down 2 won from the prior session. The three-year Treasury yield rose 4.1 basis points to 3.809 percent.
The five-year government bond yield increased 3.3 basis points to 4.041 percent. On July 9 the Dow Jones Industrial Average and Nasdaq Composite each gained 0.29 percent. SK hynix American depositary receipts closed at $168, above the $149 offering price.
