The benchmark KOSPI fell more than 1% to around 8,330 on Wednesday, erasing gains from the previous session as persistent foreign selling continued to dampen sentiment. The downturn coincided with the Korean won hovering near a 17-year low against the US dollar, prompting overseas investors to further cut their exposure to Korean equities.
Chipmakers and other large-cap technology stocks came under pressure after an extended AI-driven rally, with investors taking profits following another strong quarter for global semiconductor shares. Notable declines included Samsung Electronics (-4.0%), SK Hynix (-3.3%), SK Square (-4.3%), LG Energy Solution (-2.4%), Hyundai Motor (-1.4%), and SK Inc. (-9.4%).
Limiting deeper losses, South Korea’s exports exceeded $100 billion for the first time in June, supported by nearly threefold growth in semiconductor shipments and robust AI-related demand for memory chips and server equipment.
