Kosdaq Index Plunged Under 80 Level

Kosdaq index failed in supporting 80-level after 50 days by plunging by 9.35 percent for 4 days. The composite stock exchange index (Kospi) also slipped 10 points at 910 due to the offering of institutional investors and foreign investors.

Kosdaq index on the 24th closed at 79.48 dropped by 1.54 point (1.90 percent) from the previous day. That was the lowest index after February 28th`s 78.71. Losers were 596 while advancers were 148.

Kospi closed at 915.69 decreased by 10.01 point (1.08 percent). Once it rose to 927.15 in the morning, but massive sales of foreigners and institutional investors once dropped it to 906.01.

Foreigners sold for total 90.8 billion won or 60.5 billion won in main bourse, and 30.3 billion won in Kosdaq.

Institutional investors sold 101.6 billion won in main bourse, and 5.2 billion won in Kosdaq.

Chan-Sun Hong hcs@donga.com