The KOSPI large-cap index fell 20.6 percent between July 1 and July 16, underperforming the benchmark KOSPI's 19.5 percent decline over the same period, according to Korea Exchange data.
The KOSPI mid-cap index lost 6.2 percent, while the small-cap index slipped 1.6 percent, significantly outperforming large caps.
The trend marked a reversal from June, when the large-cap index gained 0.9 percent while the mid- and small-cap indexes fell 10.5 percent and 11.1 percent, respectively.
Investors shifted toward smaller stocks as concerns over a peak in the semiconductor cycle triggered heavy selling in market heavyweights Samsung Electronics and SK hynix, while foreign buying also slowed.
Samsung Electronics has fallen 23.7 percent so far this month, while SK hynix has lost 30.5 percent. Samsung shares dropped to 255,000 won on July 16 from 334,000 won at the end of June, while SK hynix fell to 1.842 million won from 2.65 million won.
Among small-cap stocks, so-called "patriotic theme" shares led gains. Hansung Enterprise surged 245 percent this month, while Monami and ENEX climbed 211 percent and 162 percent, respectively.
Among mid-caps, cosmetics and food shares outperformed. Cosmax rose 17 percent, Amorepacific Holdings gained 15 percent, and Kolmar Korea added 8 percent, while Orion Holdings and Lotte Wellfood advanced 8 percent and 6 percent, respectively.
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