Trading on South Korea’s benchmark KOSPI index was suspended for 20 minutes Tuesday morning after the gauge plunged 8.2%, triggering circuit breakers designed to curb extreme volatility.
The halt came as a broad-based sell-off engulfed the market, with technology stocks bearing the brunt of the selling pressure.
3%. The steep declines in these heavyweight names dragged the broader index lower, reflecting intense risk-off sentiment among investors.
Samsung Electronics shares fell 9.28%, while memory chipmaker SK Hynix dropped 10.3%.
The steep declines in these heavyweight names dragged the broader index lower, reflecting intense risk-off sentiment among investors.
The KOSPI’s sharp retreat marks a significant reversal from recent record highs, underscoring the fragility of the rally that had carried the market to new peaks earlier in the year.
This latest disruption follows a period of heightened instability in Seoul’s equity markets.