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South Korea Stock Market Drop: KOSPI Index Crashes Over 8%
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
South Korea’s KOSPI fell more than 8%, dropping below 7,700 and triggering sell-side short-selling on both the KOSPI and KOSDAQ markets. More than ₩518.5 trillion ($350 billion) in market value was erased as Samsung Electronics and SK Hynix declined 8.5% and 11.5%, respectively, following an overnight selloff in U.S. semiconductor stocks. Higher-than-expected June inflation of 3.2% also weighed on sentiment. Investors will watch for further policy responses and whether volatility eases in upcoming trading sessions.
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