[E-Daily Reporter Kwon Oh Seok ] The KOSPI plummeted nearly 9%, closing below the 7,000 mark. Leading semiconductor stocks SamsungElectronics(005930)and SK hynix(000660)both fell, dragging down the overall index and ultimately triggering a circuit breaker (temporary trading halt).

According to MP Doctor on the 13th, the KOSPI opened at 7,412.03, down 63.91 points (0.85%), and closed at 6,806.93, down 669.01 points (8.95%), breaking below the 7,000 mark. During the session, it briefly fell as low as 6,783.43.
In the KOSPI market that day, retail investors were the only net buyers, purchasing 3.8822 trillion won, while foreign and institutional investors were net sellers of 1.6850 trillion won and 2.2194 trillion won, respectively. By trading type, combined arbitrage and non-arbitrage trading showed a net selling volume of 1.7715 trillion won.
Selling pressure was particularly heavy for SamsungElectronics and SK hynix—the top two companies by market capitalization—causing their stock prices to plummet relentlessly. This is believed to have amplified the selling pressure amid persistent concerns that the semiconductor industry has peaked. According to the Korea Exchange, SamsungElectronics closed at 254,500 won, down 30,500 won (10.70%), while SK hynix closed at 1,845,000 won, down 335,000 won (15.37%).
As a result, a circuit breaker was triggered on the KOSPI market around 1:28 p.m. that day. This marks the fourth trading day since the 7th, and it is the seventh time this year that a circuit breaker has been triggered on the KOSPI. Earlier that morning, a sell-side sidecar (temporary suspension of program sell orders) had been activated, and as the decline accelerated in the afternoon, it eventually led to the circuit breaker being triggered.
However, analysts in the securities industry believe there is ample room for a rebound as the second-quarter earnings season approaches.
Lee Kyung-min, an analyst at DaishinSecurities, explained, “We believe this is due to a crack in the AI industry narrative—not a deterioration of fundamentals—as well as a valuation pullback and the impact of supply-and-demand shocks (leverage unwinding). In particular, a vicious cycle has formed among domestic investor sentiment, supply and demand, and leveraged ETFs, causing the market to underperform relative to global stock markets.”
While it is true that it is difficult to predict support levels with certainty, the analyst believes that, in the long run, even small changes could lead to a resumption of the KOSPI’s upward trend.
The analyst explained, “The June CPI (Consumer Price Index), to be released on the 14th, is a critical turning point; uncertainty surrounding U.S. monetary policy and concerns about interest rate hikes may begin to subside.” He added, “This is expected to lead to a reversal in the still-soaring bond yields and the weakening dollar, ushering in a period of downward stabilization, which should support a rally in global stock markets and help stabilize the KOSPI’s sharp decline.” He further noted that as the full-fledged earnings season begins next week, the undervaluation of major sectors could come into sharper focus.
Meanwhile, the KOSDAQ opened at 839.72, up 2.29 points (0.27%), but closed at 799.36, down 38.07 points (4.55%), breaking below the 800 mark. In the KOSDAQ market, retail and institutional investors recorded net purchases of 211.4 billion won and 173.6 billion won, respectively, while foreign investors alone recorded net sales of 387.9 billion won. By trading type, combined arbitrage and non-arbitrage trades showed a net selling position of 185.6 billion won.