KOSPI Plummets, Is the Memory Semiconductor Rally Losing Momentum?

There is an interpretation that the background behind the sharp drop in the KOSPI over the past month is a slowdown in the strength of memory semiconductors centered on Samsung Electronics and SK Hynix. According to the article, even after the optimistic outlook from a global investment bank at the end of last month, the market moved in the opposite direction and volatility increased. The report said that doubts about expanding AI infrastructure investment, worsening cash flow at some large technology companies, and news of China developing semiconductor equipment weakened investor sentiment. However, the article pointed out that it is difficult to explain the extent of the decline with external factors alone. Experts analyze that the decline was amplified by the overlap of leveraged ETFs for individual stocks, borrowed investments, and margin calls. In the securities industry, the 5,000 to 5,600 range is mentioned as a support line, and future semiconductor industry conditions and foreign investor flows are seen as variables that will determine the market trend.