Seoul market wipes out $2.18 trillion as KOSPI collapses for second day

Chip stocks account for $1.3 trillion of the losses, extending the severe repricing that has already hit Wall Street manufacturers.

By Handelsavisen Newsroom · Automated 2026-07-29 13:04 UTC · 1 min read

The Seoul stock market has erased $2.18 trillion in value as the KOSPI index suffered a second consecutive day of sharp declines.

The sell-off was heavily concentrated in the technology sector, with semiconductor stocks alone accounting for $1.3 trillion of the total market loss.

Wall Street chip manufacturers have already plunged 7% in recent sessions, marking a stark reversal for a sector that had previously more than doubled its valuations.

Reuters reported the scale of the destruction, highlighting the intensity of the pressure on South Korea’s equity markets.

This collapse in Seoul mirrors a broader and severe repricing underway across the global semiconductor industry.

Wall Street chip manufacturers have already plunged 7% in recent sessions, marking a stark reversal for a sector that had previously more than doubled its valuations.

The synchronized weakness suggests that the downturn is not isolated to one region but reflects a systemic shift in investor sentiment toward high-growth tech assets.