KOSPI Plunges 7.89% on July 2 but Eases National Pension Rebalancing Concerns

According to Money Today, South Korea's benchmark KOSPI index fell 7.89% (655.32 points) to 7648.09 on July 2, with mark-to-market losses reaching approximately 40 trillion won for the National Pension Fund. However, the sharp decline eased concerns about potential large-scale equity sales triggered by the fund's asset rebalancing, which began on July 1 after a temporary suspension. Samsung Electronics dropped 9.06% to 286,000 won, while SK Hynix fell 14.57% to 2.187 million won. Despite the single-day losses, analysts noted that the market turmoil may reduce immediate rebalancing pressure on the fund, as equity valuations have adjusted significantly.
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