[Edaily Reporter Shin Ha-yeon ] The KOSPI plummeted nearly 9% as geopolitical tensions in the Middle East coincided with concerns that semiconductor earnings had peaked. SamsungElectronics(005930)and SK hynix(000660)both plunged sharply, adding downward pressure on the index. In particular, SK hynix fell more than 15% in a single day as selling pressure on its shares intensified, despite the success of its American Depositary Receipt (ADR) listing.
According to MP Doctor on the 13th, the KOSPI closed at 6,806.93, down 669.01 points (8.95%) from the previous trading day. During the session, it even fell below the 6,700 mark. Based on the closing price, this was the lowest level in about two and a half months, since April 29 (6,690.90).
As market volatility intensified, a sell-side “side car” (suspension of sell orders in program trading) was triggered following a sharp drop in KOSPI 200 futures in the morning, and a Level 1 circuit breaker was activated at 1:28 p.m. This marks the 13th time in history—and the seventh time this year—that a circuit breaker has been triggered on the KOSPI market, reflecting the unusually high volatility in the stock market caused by repeated sharp declines in semiconductor stocks.
SamsungElectronics, the market leader, closed at 254,500 won, down 30,500 won (10.70%) from the previous trading day. SK hynix closed at 1,845,000 won after plummeting 15.37% (335,000 won), its largest single-day drop this year. This was driven by a widespread flight from risk as military tensions between the U.S. and Iran escalated again over the weekend. As international oil prices and the won-dollar exchange rate rose, selling pressure from foreign investors is believed to have concentrated on major semiconductor stocks.
In the case of SK hynix in particular, the decline was exacerbated by the fading of expectations following its Nasdaq ADR listing on the 10th. Although the ADR offering was a success, rising 12.8% above the offering price, a flood of “sell-on-the-news” selling pressure emerged once the event concluded—as domestic stock prices had already priced in expectations ahead of the U.S. listing.
Kim Seok-hwan, an analyst at MIRAE ASSET SECURITIES, analyzed the day’s market decline, stating, “As expectations surrounding SK hynix’s ADR listing—which had driven recent stock price gains—materialized, profit-taking pressure emerged following the conclusion of the event. This was compounded by concerns that second-quarter earnings might fall short of the market’s heightened expectations.”
He continued, “Positive fundamentals and short-term stock price stability are separate issues,” noting, “Recently, liquidity in the domestic stock market has been concentrated in semiconductors and single-stock leveraged products, creating a structure where even minor negative news can amplify price volatility as positions are liquidated. Therefore, it is difficult to rule out the possibility that the impact of this sharp decline will continue to be reflected over the next few days.”
On that day, the KOSDAQ index closed at 799.36, down 38.07 points (4.55%) from the previous session, falling below the 800 mark.
According to MP Doctor on the 13th, the KOSPI closed at 6,806.93, down 669.01 points (8.95%) from the previous trading day. During the session, it even fell below the 6,700 mark. Based on the closing price, this was the lowest level in about two and a half months, since April 29 (6,690.90).
As market volatility intensified, a sell-side “side car” (suspension of sell orders in program trading) was triggered following a sharp drop in KOSPI 200 futures in the morning, and a Level 1 circuit breaker was activated at 1:28 p.m. This marks the 13th time in history—and the seventh time this year—that a circuit breaker has been triggered on the KOSPI market, reflecting the unusually high volatility in the stock market caused by repeated sharp declines in semiconductor stocks.
SamsungElectronics, the market leader, closed at 254,500 won, down 30,500 won (10.70%) from the previous trading day. SK hynix closed at 1,845,000 won after plummeting 15.37% (335,000 won), its largest single-day drop this year. This was driven by a widespread flight from risk as military tensions between the U.S. and Iran escalated again over the weekend. As international oil prices and the won-dollar exchange rate rose, selling pressure from foreign investors is believed to have concentrated on major semiconductor stocks.
In the case of SK hynix in particular, the decline was exacerbated by the fading of expectations following its Nasdaq ADR listing on the 10th. Although the ADR offering was a success, rising 12.8% above the offering price, a flood of “sell-on-the-news” selling pressure emerged once the event concluded—as domestic stock prices had already priced in expectations ahead of the U.S. listing.
Kim Seok-hwan, an analyst at MIRAE ASSET SECURITIES, analyzed the day’s market decline, stating, “As expectations surrounding SK hynix’s ADR listing—which had driven recent stock price gains—materialized, profit-taking pressure emerged following the conclusion of the event. This was compounded by concerns that second-quarter earnings might fall short of the market’s heightened expectations.”
He continued, “Positive fundamentals and short-term stock price stability are separate issues,” noting, “Recently, liquidity in the domestic stock market has been concentrated in semiconductors and single-stock leveraged products, creating a structure where even minor negative news can amplify price volatility as positions are liquidated. Therefore, it is difficult to rule out the possibility that the impact of this sharp decline will continue to be reflected over the next few days.”
On that day, the KOSDAQ index closed at 799.36, down 38.07 points (4.55%) from the previous session, falling below the 800 mark.
