KOSPI plunges 6%, retreats to the 8,400 level... circuit breaker triggered twice in a week
KOSPI plunge expands shock to the collapse of the 8,400 level and even a circuit breaker Check now the causes, including weakness in semiconductor stocks and foreign selling, as well as market volatility
On the 26th, the KOSPI closed at 8,411.21, down 5.81% from the previous trading day, falling to the 8,400 level. The KOSDAQ also fell 4.10% to finish the session at 851.37.
The earlymorning decline continued into the afternoon, and a sellside circuit breaker was triggered in the morning, followed by a circuit breaker around noon. It was the first time since the launch of the domestic stock market that circuit breakers were triggered twice in one week.
The sharp drop was largely driven by weakness in semiconductor stocks. Samsung Electronics and SK hynix fell 5.30% and 8.36%, respectively, and largescale selling by foreign investors and institutions also deepened the index's decline. Market analysts said profittaking after the recent rally and concentration in specific sectors had increased volatility.