The benchmark KOSPI fell more than 2% to around 8,890 on Tuesday, pulling back from record highs and mirroring overnight losses on Wall Street, as a selloff in major technology stocks weighed on sentiment. Caution also persisted around lofty valuations and mounting regulatory scrutiny of leveraged products linked to South Korea’s semiconductor sector, with authorities reviewing measures to address market volatility and record levels of retail leverage.
Losses were led by technology bellwethers, including SK Hynix (-2.0%) and Samsung Electronics (-2.7%), alongside notable declines in Hyundai Motor (-5.5%), HD Hyundai Heavy Industries (-2.2%), and Kia Corporation (-4.2%).
The downside was partly offset by ongoing strength in the AI semiconductor space. SK Hynix surpassed Samsung Electronics to become South Korea’s most valuable listed company, while Samsung said HBM4 sales exceeded $1 billion within just four months of launch.
