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KOSPI Plunges Over 4% as Semiconductor Stocks Drag Down Index

Electronic Technology · Semiconductors · yonhap_finance · 2026-08-06

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South Korean stocks saw a sharp divergence as KOSPI tumbled due to a semiconductor sell-off, while KOSDAQ managed a five-day winning streak to reclaim 800.

What Happened

KOSPI Sell-off: The KOSPI index dropped over 4% as negative earnings guidance from U.S. memory chipmaker SanDisk triggered a sell-off in major domestic semiconductor stocks. Samsung Electronics and SK Hynix saw significant declines, weighing heavily on the broader market index.

Market Dynamics: Foreign and institutional investors offloaded shares, with foreign net selling in the KOSPI market exceeding 3 trillion won. The heightened volatility led to the activation of a sell-sidecar during the trading session, reflecting investor anxiety.

KOSDAQ Resilience: In contrast to the main bourse, the KOSDAQ index rose for the fifth consecutive session, successfully reclaiming the 800-point level. Gains in robotics and biotechnology stocks helped provide support and maintain positive momentum for the secondary market.

Market Outlook: Analysts suggest that the sentiment toward the semiconductor sector remains fragile following the disappointing U.S. earnings reports. Regulatory tightening and profit-taking activities are expected to contribute to continued market volatility in the near term.

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