South Korea's Kospi Plummets 2% as Semiconductor Stocks Track U.S. Tech Sell-Off
Deep News
Feb 05
The Kospi index in South Korea experienced a sharp decline of up to 2.2%, mirroring an overnight downturn in U.S. markets, which was largely driven by disappointing performance forecasts from AMD.
Semiconductor behemoths Samsung Electronics and SK Hynix bore the brunt of the sell-off, contributing the most significant drag on the benchmark index.
Foreign funds and individual retail investors were net sellers of Kospi constituent stocks, while domestic institutional funds stepped in as buyers.
The smaller-cap Kosdaq index also faced pressure, dropping as much as 1.6% during the trading session.
The broader MSCI Asia-Pacific Index reflected the regional weakness, falling 0.5%.
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