Korean stocks tumbled as investors offloaded tech shares, sending the KOSPI index sharply lower and dragging Samsung Electronics and SK Hynix to steep losses amid global growth fears.
The KOSPI index plunged as a massive sell-off in technology shares spilled into the broader market, driven by heavy foreign selling and deteriorating global semiconductor demand outlook.
The index fell sharply, marking its worst single-session performance in months as tech shares slumped.
Technology and semiconductor stocks were the primary drags, with some major names sinking sharply.
Short-term sentiment remains fragile, but analysts note that valuations may attract dip-buying if global tech demand stabilizes.
Samsung Electronics, a bellwether for Korean tech, was among the hardest hit as investors rushed to offload tech shares amid broad risk aversion and concerns over memory chip demand.
The stock fell as part of a broader offloading of technology positions, with investors spooked by soft semiconductor demand forecasts.
Some analysts see the dip as a long-term entry point given Samsung's market leadership, but caution that near-term headwinds persist.
Heavy foreign selling contributed significantly to the decline, as offshore funds reduced exposure to Korean tech.
Korean stocks led Asia-wide declines as investors aggressively offloaded technology shares, driving the KOSPI index to its sharpest one-day drop in over a year. The sell-off reflects mounting concerns about global semiconductor demand and a broader pivot away from growth sectors. Heavy foreign selling and a steep decline in Samsung Electronics and SK Hynix shares intensified the rout.
A broad rush to offload technology shares triggered the sell-off, as investors grew increasingly worried about global semiconductor demand and shifting monetary policy expectations.
Samsung Electronics and SK Hynix, two of Korea's largest technology exporters, saw the steepest declines, with both stocks falling sharply on heavy volume.
Foreign investors sold off Korean shares aggressively, with heavy net selling exacerbating the KOSPI's decline and adding downward pressure on major tech names.