KOSPI Plummets Below 6,000 Point Threshold... Fears of Intensified Global Memory Market Competition Rise

On February 28, the KOSPI closed at 6,023.66, down 10.84% (732.09 points) from the previous day, reversing its rapid ascent from below 6,000 to above 9,000 in late February. The index recorded its second-largest single-day decline since the 23rd, with top semiconductor stocks like Samsung Electronics and SK Hynix falling over 10%, pushing the market lower. Concerns over intensified global memory market competition emerged after news of Chinese state-owned enterprises ramping up DUV exposure equipment production, triggering sell-offs. U.S. semiconductor stocks like ASML, Micron, and Sandisk also declined, despite major indices showing minimal volatility. Controversies surrounding NVIDIA's alleged $25 billion funding guarantee to OpenAI further pressured markets, as investors worried about artificial inflation of AI chip demand. Despite strong fundamentals from major companies like Samsung and Alphabet, fears of slowing earnings growth and market fatigue have driven continuous equity declines.