KOSPI plunges over 6% after touching 8,000 as foreign profit-taking hits

On the 15th, the KOSPI rose above 8,000 for the first time shortly after the open, reaching an intraday record of 8,046.78, but reversed course as foreign and institutional profit-taking orders poured in. It closed at 7,493.18, down 6.12% from the previous session. The index fell as low as 7,371.68, leaving a 675.1-point gap between the day’s high and low. Retail investors bought a net 7.2 trillion won, but foreigners sold 5.6 trillion won and institutions sold 1.7 trillion won, dragging the market lower. Continued foreign selling after a semiconductor-led rally also pushed the won-dollar exchange rate above 1,500 for the first time in 39 days. Source: rss.donga.com