January 12, 2021 11:18
Individual investors snapped up a record W4.49 trillion worth of stocks on the Korean bourse on Monday, propelling the Korea Composite Stock Price Index past the 3,200-point mark during intra-day trading (US$1=W1,097).
But the KOSPI closed down 0.12 percent at 3,148.45 points as institutional investors took profits by dumping a record W3.74 trillion of stocks, while foreigners sold off more than W700 billion. Yet still the KOSPI remained above 3,000 points for the third straight day.
The previous record purchase amount by individual investors was W2.22 trillion on Nov. 30 last year.
The KOSPI went on a rollercoaster ride on Monday as individual buying clashed with heavy selling by institutional and foreign investors, zigzagging 170.04 points during trading, the second highest fluctuation ever recorded on the Korean bourse.
Individual investors snapped up a record number of Samsung Electronics shares, but more and more are parking their money in inverse exchange-traded funds, whose value rises in a declining market, suggesting that they are skeptical that the bull run can continue.
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