South Korean Shares Tumble on Tech Selloff

2026-07-16 01:39 By Erika Ordonez 1 min. read

The benchmark KOSPI plunged nearly 7% to around 6,780 on Thursday, erasing gains from the previous session and approaching an over two-month low, as a global semiconductor selloff pressured technology shares.

The decline followed overnight losses in US chipmakers, which reignited concerns over AI valuations and dragged South Korea's semiconductor heavyweights lower, with SK Hynix (-11.4%) and Samsung Electronics (-8.6%) tumbling sharply.

Other notable losses included SK Square (-12.5%), Samsung Electro-Mechanics (-9.1%), Hyundai Motor (-3.5%), and Doosan Enerbility (-3.8%).

Investor sentiment was also dampened by escalating Middle East tensions after fresh US strikes on Iran fueled concerns over energy supplies and weighed on risk appetite.

Separately, the Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75% in line with expectations, marking the start of a new tightening cycle aimed at curbing inflation and supporting the won.



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South Korean Shares Tumble on Tech Selloff
The benchmark KOSPI plunged nearly 7% to around 6,780 on Thursday, erasing gains from the previous session and approaching an over two-month low, as a global semiconductor selloff pressured technology shares. The decline followed overnight losses in US chipmakers, which reignited concerns over AI valuations and dragged South Korea's semiconductor heavyweights lower, with SK Hynix (-11.4%) and Samsung Electronics (-8.6%) tumbling sharply. Other notable losses included SK Square (-12.5%), Samsung Electro-Mechanics (-9.1%), Hyundai Motor (-3.5%), and Doosan Enerbility (-3.8%). Investor sentiment was also dampened by escalating Middle East tensions after fresh US strikes on Iran fueled concerns over energy supplies and weighed on risk appetite. Separately, the Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75% in line with expectations, marking the start of a new tightening cycle aimed at curbing inflation and supporting the won.
2026-07-16
South Korean Shares Climb on Global Tech Rally
The benchmark KOSPI climbed 6.24% to close at 7,284 on Wednesday, extending gains from the previous session amid a global technology rally. Softer-than-expected US inflation data boosted semiconductor stocks and reduced expectations of near-term Federal Reserve tightening, supporting risk appetite. Heavyweight chipmakers led the advance, with SK Hynix surging 9.46% after its US-listed shares rallied overnight, aided by a rebound in global semiconductor stocks and a favorable brokerage initiation. Samsung Electronics also jumped 6.27%, while SK Square (16.72%), Hyundai Motor (2.12%), LG Energy Solution (4.04%), Kia Corporation (3.87%), and Hanwha Aerospace (6.6%) advanced. Investor sentiment was further supported after South Korea's finance ministry said the country's economic recovery was solidifying on the back of robust exports and improving domestic demand, while raising its 2026 growth forecast to 3%.
2026-07-15
South Korean Shares Close Higher on Chip Gains
The benchmark KOSPI rose 0.73% to close at 6,857 on Tuesday, recovering modestly from an over two-month low as heavyweight technology stocks rebounded. SK Hynix and Samsung Electronics climbed 3.74% and 3.63%, respectively, helping lift the broader market after the previous session's technology-led rout. Other gainers included HD Hyundai Electric (1.52%) and LS Electric Co. (1.57%), while notable losses were seen in Hyundai Motor (-4.39%), LG Energy Solution (-1.98%), KB Financial Group (-2.74%), and HD Hyundai Heavy Industries (-4.51%). Investors also remained focused on upcoming US inflation data and earnings from major chipmakers and US technology companies for clearer indications of the outlook for AI demand and capital spending, preventing a stronger rebound. Renewed Middle East tensions following the latest escalation between the US and Iran over the Strait of Hormuz also kept broader market sentiment cautious.
2026-07-14