KOSPI Crumbles Below 7,000 as SK Hynix Joins Nasdaq

As of 12:12 PM on the 13th, the KOSPI recorded 6,978.89, down 497.05 points (6.65%) from the previous day, tumbling below the 7,000-point mark for the first time in about two months. Starting the session at 7,412.03, the index turned downward early on and was pushed further down to an intraday low of 6,960.36. It has now fallen back below 7,000 roughly two months after first crossing that threshold on May 6.

Foreigners and institutions sold off a net 1.398 trillion won and 519 billion won respectively, while individuals purchased a net 1.857 trillion won, attempting to prop up the market. Samsung Electronics and SK hynix plummeted by 7% and 12% respectively, leading the KOSPI's decline.

Meanwhile, the KOSDAQ index also fell, recording 812.81, down nearly 3% at the same time.