KOSPI plunges 4.3% as profit-taking extends tech sell-off

South Korea's benchmark index triggered a trading halt after a sharp drop, continuing the aggressive liquidation in technology stocks that has weighed on the market from record highs.

By Handelsavisen Newsroom · Automated 2026-06-23 07:15 UTC · 1 min read

South Korea's benchmark KOSPI index fell sharply on Tuesday, dropping more than 4% and triggering a trading curb that was subsequently lifted.

The sell-off was driven by aggressive profit-taking, particularly within the technology sector, which has been under pressure following a recent run to record levels.

This move follows a period of significant instability for the KOSPI, which recently crashed nearly 10% in a separate session that also triggered circuit breakers.

The index closed down 393.46 points, or 4.32%, to settle at 8,715.9.

The steep decline marks a continuation of the volatility that has engulfed Seoul's markets, with investors cashing out gains after the benchmark's previous surge.

The trading halt, activated by the rapid price movement, underscored the intensity of the selling pressure before markets resumed trading.

This move follows a period of significant instability for the KOSPI, which recently crashed nearly 10% in a separate session that also triggered circuit breakers.