The South Korean stock market plunged again as foreign institutions joined forces to sell off

According to foreign media reports, the Korea Composite Stock Price Index KOSPI fell sharply again after rebounding for two consecutive days, with a drop of up to 4.76% during trading on October 20, and it fell below 5500 points. The decline was attributed to rising U.S. Treasury yields and the weak performance of a data center company's first day of trading. Foreign investors reduced their holdings of Korean stocks, and institutional investors, including pension funds, also joined in selling.

As of the time of writing, foreign investors had net sold 636.7 billion Korean won in the Korean securities market, while institutional investors net sold 467 billion Korean won, including financial investment institutions net selling 241.8 billion Korean won and pension funds net selling 159 billion Korean won. Individual investors net bought 838.8 billion Korean won, and other legal entities net bought 261.6 billion Korean won. Eugene Investment & Securities analyst Huh Jae-Hwan stated that this round of selling exhibited indiscriminate characteristics, with almost all stocks declining, and the market appeared very weak, with battery manufacturers that had led the rebound on Monday also experiencing a pullback.