South Korean stock market plunged again today, with foreign institutions selling off jointly.

BlockBeats news, October 20 — After rebounding for two consecutive days and appearing to have bottomed out at one point, the KOSPI once again fell sharply, dropping as much as 4.76% at one point and briefly losing the 5,500-point mark during intraday trading. Affected by rising U.S. Treasury yields and the weak first-day performance of a data center company's listing, foreign investors reduced their holdings of Korean stocks, and institutional investors, including pension funds, also joined the selling, placing significant pressure on the market.

As of press time, foreign investors recorded net sales of KRW 636.7 billion in South Korea's securities market. Institutional investors also recorded net sales of KRW 467 billion, of which financial investment institutions recorded net sales of KRW 241.8 billion and pension funds recorded net sales of KRW 159 billion. Individual investors and other legal entities recorded net purchases of KRW 838.8 billion and KRW 261.6 billion, respectively, attempting to support the index and limit its further decline. Eugene analyst Huh Jae-Hwan said: "This selloff is indiscriminate, with almost all stocks falling. The market looks very fragile." Even battery manufacturers, which had led the rebound on Monday, have now pulled back.