South Korea's KOSPI index rose about 1% on the day, after earlier losses widened to as much as 3%.
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South Korea's KOSPI index fell below 7200 points, down more than 6% on the day.
PANews reported on July 8 that, according to Jinshi, the South Korean KOSPI index fell below 7200 points, down more than 6% on the day.
South Korea's KOSPI index fell 2% intraday.
According to Gate data, the South Korean KOSPI index fell by 2% during the day, according to Odaily Odaily.
South Korea's KOSPI index turned positive, with SK Hynix rising over 2%.
According to BlockBeats, on July 8th, based on Bitget market data, the South Korean KOSPI index turned positive, after initially falling nearly 4%. SK Hynix rose over 2%, while Samsung Electronics narrowed its losses to 1%. According to BIT (bit.com) market data, US storage concept stocks opened lower but rallied in overnight trading, with SanDisk rising over 3%, and Micron Technology and Western Digital rising over 1%.
The South Korean KOSPI index opened down 232.32 points, a drop of 3.03%.
According to ChainCatcher, Gate data shows that the South Korean KOSPI index opened down 232.32 points on Wednesday, July 8th, a drop of 3.03%, to 7,423.99 points. SK Hynix and Samsung Electronics both fell by 4%.
South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)
South Korea's KOSPI index fell further to 7%.
According to Mars Finance, on July 7th, the South Korean KOSPI index continued its decline, falling 7% to 7487.25 points. Samsung and SK Hynix both fell nearly 9%. Furthermore, Southern's double- long in Samsung Electronics (07747) fell over 20%, and Southern's double- long position in SK Hynix (07709) fell over 19%.