The Korean stock market fell sharply on Thursday, and the KosPI plate fell by more than 8 per cent and broke 7700 points. The KOSDAQ market is also weak, and as the decline increases, there is a marked rise in risk avoidance.
Market value evaporates about $350 billion
The fall evaporated the total market value of the Korean stock market by about 518.5 trillion won, or about $350 billion. The weighting share was the main drag, with a drop of 8.5 per cent in the three-star electronic disc and 11.5 per cent in the SK Hercules.
The night after, the U.S. chip went down.
Market sales are linked to the weakening of the American semiconductor plate overnight. As an important technology weighting of the Korean stock market, Samsung Electronics and SK Hercules are more sensitive to global chip plate fluctuations, and the opening of the Korean market came at a time when the US chip stock fell the day before.
- KOSPI dropped by 8%
- Total market value reduced by approximately 518.5 trillion won
- SK Hercules dropped 11.5%.
Monthly inflation was higher than expected
In addition to external market shocks, South Korea ' s June inflation data also increased market pressure. The data show that the monthly inflation rate was 3.2 per cent, higher than market expectations. High inflation data suppress risk preferences and increase investors ' interest in subsequent policy responses.
Next, the market will observe whether the South Korean side has released signals to further stabilize the market, and whether future trading days have eased.