The benchmark KOSPI slipped toward 8,380 on Tuesday, extending its decline for a third consecutive session as investors continued to take profits following the recent AI-fueled rally and amid record foreign selling. Overseas investors offloaded a record KRW 7.7 trillion in local equities in the previous session, exerting additional downward pressure despite solid domestic buying.
Market sentiment was further dampened by weak macroeconomic data. South Korea’s industrial production fell 0.3% in May, while semiconductor output dropped 10%, reflecting shipment adjustments and base effects. Major decliners included SK Square (-4.0%), LG Energy Solution (-7.9%), Hanwha Aerospace (-4.0%), and SK Hynix (-2.1%).
The broader slide was partially offset by optimism surrounding the government’s KRW 800 trillion semiconductor investment plan and an improvement in global risk appetite following easing tensions in the Middle East and overnight gains on Wall Street. For June as a whole, the KOSPI was down more than 1%.
