Attention is focused on whether the KOSPI can recover from its record drop on June 23.
In the NXT pre-market on June 24, as of 8:32 a.m., SK Hynix was trading at 256,800 won, up 13,000 won (0.51%) from the previous day. At the same time, Samsung Electronics saw a rise of 3,000 won (0.97%), trading at 307,000 won. Notably, SK Hynix attempted a rebound, reaching as high as 261,500 won during the session.
According to the Korea Exchange, the KOSPI closed at 8,203.84, down 910.71 points (9.99%) from the previous session, marking the largest drop in history. In terms of percentage, this was the biggest decline since March 4, when it fell by 12.06%. The KOSDAQ also faced a downturn, closing at 891.52, down 76.88 points (7.94%). This marks the first time the KOSDAQ has fallen below 900 since November 27 of last year, when it closed at 880.06.
The significant declines were driven by major semiconductor stocks, with SK Hynix and Samsung Electronics dropping 12.47% and 12.31%, respectively. Seo Sang-young, a researcher at Mirae Asset Securities, noted, "The valuation burden on domestic large-cap semiconductor stocks, which have recently reached all-time highs, has increased significantly."
The previous day, U.S. markets also experienced a sharp decline, particularly in technology stocks. Profit-taking on AI-related and semiconductor stocks led to a drop of over 2% in the Nasdaq index. On June 23, the Dow Jones Industrial Average closed down 45.87 points (0.09%) at 51,666.84. The S&P 500 index fell by 107.33 points (1.44%) to close at 7,365.46, while the Nasdaq Composite dropped 579.56 points (2.21%) to finish at 25,587.04.
There are expectations that the KOSPI may maintain a stable trend. Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market has largely absorbed the impact of the sharp decline in U.S. semiconductor stocks, and a technical rebound along with buying interest at lower prices is anticipated. We expect some recovery from the previous day's drop." He added that the limited impact of the MSCI's failure to include South Korea in its developed market index is also expected to have a minimal effect on the market.
* This article has been translated by AI.
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