KOSPI Plummets Over 6% to 6,800 Level... Semiconductor Stocks Face Another Sell-Off

The KOSPI index plummeted over 6% to the 6,800 level amid heavy selling of semiconductor stocks and coordinated selling by foreign institutional investors. The index opened 4.45% lower at 6,960.50, extending its decline to 6,730.87. Foreign investors sold 1.3761 trillion won, institutions sold 2.3666 trillion won, while individuals purchased 3.6581 trillion won. Semiconductor giants led the slide, with Samsung Electronics closing 8.77% lower at 255,000 won, SK Hynix dropping 11.53% to 184,200 won, and SK Square falling 12.30%. Other weak performers included Hyundai Motor (-2.07%), LG Energy Solution (-0.30%), and Samsung Life (-1.93%). The Korea Exchange activated a sell-side circuit breaker, raising the year-to-date count to 19 and marking the fifth trigger this month. The KOSDAQ index also fell 4.53% to 791.84, with semiconductor materials, parts, and robotics stocks under selling pressure. The won gained against the dollar, closing at 1,481.10, as the Bank of Korea raised rates by 0.25% to 2.75%, though market impacts were limited. U.S. semiconductor indices and Chinese IPOs exacerbated fears of a memory market peak.