Sources: 
South Korea's KOSPI index experienced a significant decline of 6.12%, closing at 7,493.18 after touching a historic high of
8,046.78. This setback was fueled by a combination of profit-taking by investors and a persistent wave of selling by foreign traders, who offloaded
5.6 trillion won in shares over seven consecutive days.
As foreign investors cashed out of major stocks, particularly in the semiconductor sector, the market sentiment shifted dramatically. Major players like
Samsung Electronics and
SK Hynix experienced notable drops of
8.6% and
7.7%, respectively, contributing to the KOSPI's downward spiral. This sell-off followed a period of exuberance fueled by advances in artificial intelligence and tech innovations, where the index soared beyond the coveted 8,000-point milestone.
According to market analysts, this sudden downturn highlights the KOSPI's vulnerability amid global economic uncertainties, particularly regarding ongoing discussions between U.S. President
Donald Trump and Chinese leader
Xi Jinping about trade and economic cooperation, which contributed to investor caution. The combination of these factors led to increased volatility, showcasing the fragility of South Korea's stock market, heavily influenced by a handful of tech giants.
Sources: South Korea's KOSPI index plunged 6.1% to 7,493.18 on profit-taking following a record high of 8,046.78, as foreign investors sold off shares amid U.S.-China trade discussions between President Trump and Xi Jinping. Major companies like Samsung and SK Hynix saw significant declines.
