KOSPI Falls 20.5% From July 19 High to July 8 Low, Dragged by Semiconductor Concentration

According to a Yugin Investment Securities report on July 13, South Korea's KOSPI index declined 20.5% from 9,114 on July 19 to 7,246 on July 8. The researcher noted that while further downside pressure has eased to levels seen in post-COVID market corrections, the sharp decline reflects fund repositioning away from semiconductor stocks rather than deteriorating economic fundamentals. Samsung Electronics and SK Hynix accounted for 78.3% of the KOSPI's first-half gains, creating outsized market concentration that does not exist in other major markets.
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