South Korea’s benchmark Kospi index closed down nearly 8% on Thursday, marking the steepest single-day decline in the market’s recent history.
The broad-based sell-off was driven by renewed panic in the technology sector, with memory chip leaders Samsung Electronics and SK Hynix leading the losses.
On Tuesday, the Kospi crashed nearly 10%, triggering a 20-minute trading halt as a massive sell-off engulfed the technology sector.
Both shares fell sharply, with declines reaching up to 12% as investors fled high-beta tech names amid deteriorating sentiment.
The collapse follows a turbulent week for Seoul’s markets.
On Tuesday, the Kospi crashed nearly 10%, triggering a 20-minute trading halt as a massive sell-off engulfed the technology sector.
That decline extended the index's drop from recent record highs, signaling a rapid reversal in investor appetite for Korean equities.