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News for India > Business > Korean Stocks Tumble as Investors Rush to Offload Tech Shares | Stock Market News
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Korean Stocks Tumble as Investors Rush to Offload Tech Shares | Stock Market News

Last updated: June 8, 2026 6:09 am
2 hours ago
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South Korean stocks dropped, led by steep losses in chipmaker shares on an intensifying rotation out of artificial intelligence beneficiaries. 

The Kospi sank as much as 8.8% early Monday, taking the key gauge’s decline from its recent peak to about 15%, poised to enter a technical correction. Memory maker Samsung Electronics Co. fell as much as 11% while peer SK Hynix Inc. slid 10%. 

The sudden plunge triggered a circuit breaker, halting trading. The Korea Exchange held an emergency meeting Monday to assess rising volatility and discuss measures to ensure stable market operations.

Concerns over overheating in the AI rally combined with uncertainty in the macro environment have taken some steam out of global tech stocks over the past few sessions. Korea is seeing outsized losses after its world-beating gains, with the Kospi still up 77% since the start of the year.

Foreign investors have been fleeing, selling more than $10 billion worth of Kospi shares on a net basis last week alone. That’s put pressure on the won, with the currency touching its weakest level against the dollar since March 2009.

The South Korean market faces risk of a “Black Monday” event with “currency instability, interest-rate repricing and profit taking in semiconductors all happening at the same time,” said Kim Doo-un, an analyst at Hana Securities.

The government on Sunday laid out a series of targeted measures to try and bolster the won, pledging firm action against speculative trading and other activities. The moves come as policymakers across Asia step up efforts to support their currencies amid rising energy costs and a stronger dollar stemming from the Iran war.

This article was generated from an automated news agency feed without modifications to text.



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TAGGED:1. South Korean stocks 2. chipmaker shares 3. artificial intelligence 4. Kospi 5. technical correction
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