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KOSPI Index Today: Why Samsung’s 17% Five-Day Slide Is Dragging South Korea’s Market

Published by
Anjali Belgaumkar

South Korea’s KOSPI fell as much as 6.1% to near 5,996, its fifth straight daily loss and a drop of more than 15% in five sessions, leaving it roughly 35% below its June record high. Bull Theory estimated about ₩229 trillion ($150 billion) in market value was erased. Memory stocks led the rout, and Samsung and SK Hynix make up about half the index. Samsung fell as much as 6.8% and SK Hynix as much as 8.5%, with Samsung down more than 17% in five days. The exchange triggered a sell-side sidecar, pausing program selling for five minutes after KOSPI 200 futures dropped 5.1%. The posts do not give a cause for the selloff.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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