KOSPI plummets on 'Black Tuesday', reverse trading increases to the highest in over two months

'Debt' credit balance continues at a high level... KOSPI, another ‘pull-up’ at 6,000 points

(Seoul = Yonhap News) Reporter Go Eun-ji = On the 13th, when KOSPI fell to the 5,000 level during intraday trading, the amount of counter trading increased to the highest in over two months since the end of July.

According to the Korea Financial Investment Association on the 14th, the actual counter sale amount compared to the consignment sale receivables of the previous day was calculated to be 59.35 billion won. This is the highest since 122.01 billion won on July 31.

The proportion of counter sales compared to receivables also recorded 5.6%, the largest since July 31 (7.1%). It is more than double the 2.7% increase from the day before, on the 12th.

Contrary trading refers to the amount of forced liquidation that occurs due to insufficient margin in stock trading. If an investor cannot repay money borrowed from a securities company or the value of the stocks pledged as collateral falls below a certain standard, the securities company forcibly sells the stocks held and collects the bonds without the investor's consent.

It is interpreted that the scale of reverse trading has increased as KOSPI plunged 5.46% compared to the previous trading day based on the closing price of the previous day. KOSPI fell to 5,911.11 during the day, falling below the 6,000 mark for the first time in about two and a half months since July 31 (low price 5,629.76).

In particular, the 'two top' domestic stock markets, SK Hynix [000660] and Samsung Electronics [005930], fell 10.09% and 7.39%, respectively.

Investor deposits in the form of stock market standby funds amounted to KRW 100.0983 trillion the previous day, a slight decrease from the 12th (KRW 100.4389 trillion).

The credit transaction loan balance, which is considered an indicator of 'debt investment' (investment by borrowing money), recorded 34.2529 trillion won. It was at a similar level to the 12th (KRW 34.2887 trillion), which was the highest since July 15 (KRW 34.3701 trillion).

On this day, KOSPI closed at 6,008.81, down 0.4% from the previous day, once again reaching the 6,000 mark.

The index started at 6,062.08, up 26.73 points (0.44%) from the previous day, but turned downward and at one point fell to the 5,000 mark (5,944.65).

Lee Gyeong-min, a researcher at Daishin Securities, analyzed, "The KOSPI showed strength in the early days of the market due to an influx of counter-buying following the previous day's plunge, but fell due to rising international oil prices, sluggish artificial intelligence (AI) momentum, and caution ahead of the U.S. consumer price index (CPI) announcement."