South Korean Shares Plunge on Global Tech Selloff

2026-06-23 01:34 By Erika Ordonez 1 min. read

The benchmark KOSPI plunged 9.99% to close at 8,204 on Tuesday, retreating sharply from record highs and tracking overnight losses on Wall Street as a selloff in major technology stocks weighed on sentiment.

Investors also remained cautious over elevated valuations and increasing regulatory scrutiny of leveraged products tied to South Korea's semiconductor sector.

Foreign investors were heavy net sellers, adding to downward pressure.

Losses were led by technology heavyweights, with SK Hynix (-11.78%) and Samsung Electronics (-11.17%) tumbling, alongside SK Square (-5.18%), Hyundai Motor (-12.05%), LG Energy Solution (-6.10%), HD Hyundai Heavy Industries (-7.23%), and Kia Corp (-8.85%).

Meanwhile, investors continued to monitor developments in the AI semiconductor industry, with SK Hynix recently overtaking Samsung Electronics as South Korea's most valuable listed company, while Samsung reported HBM4 sales exceeding $1 billion within four months of its launch.



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South Korean Shares Plunge on Global Tech Selloff
The benchmark KOSPI plunged 9.99% to close at 8,204 on Tuesday, retreating sharply from record highs and tracking overnight losses on Wall Street as a selloff in major technology stocks weighed on sentiment. Investors also remained cautious over elevated valuations and increasing regulatory scrutiny of leveraged products tied to South Korea's semiconductor sector. Foreign investors were heavy net sellers, adding to downward pressure. Losses were led by technology heavyweights, with SK Hynix (-11.78%) and Samsung Electronics (-11.17%) tumbling, alongside SK Square (-5.18%), Hyundai Motor (-12.05%), LG Energy Solution (-6.10%), HD Hyundai Heavy Industries (-7.23%), and Kia Corp (-8.85%). Meanwhile, investors continued to monitor developments in the AI semiconductor industry, with SK Hynix recently overtaking Samsung Electronics as South Korea's most valuable listed company, while Samsung reported HBM4 sales exceeding $1 billion within four months of its launch.
2026-06-23
South Korean Shares Set New Record
The benchmark KOSPI rose 0.69% to close at 9,115 on Monday, reversing losses from the previous session and reaching a fresh record high, led by gains in technology shares. Investor sentiment was supported by data showing South Korea’s exports surged 60.4% year-on-year in the first 20 days of June, with semiconductor shipments nearly tripling amid robust global AI-driven demand. Optimism toward the chip sector was further reinforced by reports that LG Group executives will meet Nvidia officials this week to discuss cooperation in AI and robotics. SK Hynix climbed 5.57%, SK Square soared 10.22%, LG Electronics jumped 7.57%, and Hanmi Semiconductor added 2.20%. The export-driven rally offset concerns over renewed Middle East tensions and higher oil prices, as investors continued to monitor developments in US-Iran negotiations for their potential implications on inflation and the Federal Reserve's policy outlook.
2026-06-22
South Korean Shares Edge Lower on Middle East Risks
The benchmark KOSPI edged down 0.13% to close at 9,052 on Friday, reversing earlier gains, as renewed Middle East uncertainty prompted investors to lock in profits following the market's recent rally to record highs. Sentiment weakened after planned talks between the United States and Iran were cancelled, raising doubts about the durability of the recent peace agreement and weighing on risk appetite across regional markets. Samsung Electronics slipped 1.38% after reaching fresh highs earlier in the session, while Doosan Enerbility (-2.41%), Hanwha Aerospace (-6.48%), and KB Financial Group (-6.48%) also declined. In contrast, SK Hynix remained resilient, advancing 3.35%, alongside SK Square (5.29%) and Hyundai Mobis (1.00%). Despite the retreat, foreign investors remained net buyers of local equities, suggesting underlying demand for South Korean stocks remained intact.
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