KOSPI drops sharply as investors sell tech stocks amid profit-taking
South Korean equities fell sharply on Monday morning, with the KOSPI losing 167.51 points to settle at 6,913.41. The slide was sparked by profit-taking in large-cap technology shares and heavy selling by foreign and institutional investors.
On Monday morning the Korea Composite Stock Price Index fell 167.51 points, closing at 6,913.41 after an opening dip. Traders were prompted to lock in gains from heavyweight technology stocks, leading to a pronounced sell-off by both foreign investors and domestic institutions. The market reaction was compounded by higher global bond yields and lingering doubts about the Middle East situation.
Samsung Electronics shed 4.29%, while rival chipmaker SK hynix declined 4.73% and its holding company SK Square tumbled 7.23%. Samsung Electro-Mechanics slipped 0.8% after an early rise. The Korean won traded at 1,361.2 per U.S. dollar, marking a depreciation of 4.2 won from the prior session’s close.
Why it matters
The drop highlights how global yield hikes and geopolitical tension can quickly depress South Korea's tech-driven market.
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