South Korean Market Plunge Drives Over 200 Stocks to 52-Week Lows
As the Kospi index dropped 1,450 points and the Kosdaq fell 159 points over seven trading sessions, more than 200 stocks crashed to 52-week lows, 파이낸셜뉴스 reported. The market sell-off hit heavyweights across internet, shipbuilding, power equipment, defense, and securities sectors on October 15, with over 20 stocks suffering double-digit percentage drops in a single day.
Heavyweight Drops and Sector Sell-Offs
Financial Investment Association data shows that 79 stocks on the Kospi and 143 on the Kosdaq hit 52-week lows during intraday trading. Kosdaq listings made up 64.4% of that total. Naver joined the Kospi new-low list, falling 3,800 won, or 3.23%, to close at 173,600 won after dropping as low as 171,100 won during the session. KakaoPay slid to an intraday low of 33,900 won, while LG Display dropped 4.34%, Hotel Shula fell 2.65%, E-Mart dropped 1.84%, and Netmarble dipped 0.44%.
Shipbuilding, power equipment, and defense stocks suffered even steeper losses. HD Hyundai Electric dropped to an intraday low of 473,500 won before finishing down 62,000 won, or 11.42%, at 481,000 won. Hyundai Rotem fell to 89,800 won before closing down 6,300 won, or 6.47%, at 91,000 won.
Shipbuilding and Securities Sector Contraction
Major shipbuilders and equipment suppliers sank together. Hanwa Ocean touched 61,300 won before closing down 7.86% at 62,100 won, while HD Korea Shipbuilding & Offshore Engineering dropped 6.17% to 259,000 won. HD Hyundai Heavy Industries hit an intraday price of 343,500 won, and both STX Engine and Sejin Engineering fell 8.60% and 8.84% respectively. Securities firms mirrored the downward trend, as Kiom Securities hit an intraday 52-week low of 205,000 won and Korea Investment Holdings slid to 143,600 won.
South Korea's secondary stock exchange KOSDAQ, surged +7% on heavy institutional buying in Tech and Biotech stocks.Meanwhile, the KOSPI is down -2% as Samsung and SK Hynix, which together make up about 50% of the index, are down -5.3% and -3.8%. pic.twitter.com/eEN21cj62b
On the Kosdaq, Orosteknology, Zaram Technology, ADTechnology, Gaonchips, Big Wave Robotics, Global Technology, Ducksan Nepcores, and Brils all joined the new-low registry. These declines follow a broader market crash on October 13, when the Kospi plunged over 7% during the session, leaving 200 total stocks at 52-week lows across both markets.
Market Closing Indexes
By the closing bell on October 15, the Kospi finished down 454.59 points, or 7.57%, at 5,554.22. The Kosdaq index fell 63.06 points, or 7.65%, to close at 760.82.
Market Decline Details
| Index or Stock | Closing Price or Index Level | Change / Drop |
|---|---|---|
| Kospi Index | 5,554.22 | -454.59p (-7.57%) |
| Kosdaq Index | 760.82 | -63.06p (-7.65%) |
| HD Hyundai Electric | 481,000 won | -62,000 won (-11.42%) |
| Hyundai Rotem | 91,000 won | -6,300 won (-6.47%) |
| Hanwa Ocean | 62,100 won | -7.86% |
| HD Korea Shipbuilding & Offshore Engineering | 259,000 won | -6.17% |
Frequently Asked Questions About the Stock Drop
Which market accounted for the majority of the 52-week lows on October 15?
The Kosdaq market accounted for 143 of the 222 total stocks that hit 52-week lows, representing 64.4% of the day’s total across both major exchanges.
How much did the Kospi index decline by the close of trading on October 15?
The Kospi closed down 454.59 points, or 7.57%, finishing the session at 5,554.22.
Which prominent platform and tech stocks joined the new-low list?
Naver dropped to a close of 173,600 won, while KakaoPay fell to an intraday low of 33,900 won. Other tech and industrial names including LG Display and Netmarble also recorded new lows.
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