The benchmark KOSPI index fell 9.99 percent to close at 8,203.84 on June 23 after foreign investors sold major semiconductor shares amid U.S. tech losses. The Korea Exchange activated a circuit breaker to halt trading for 20 minutes.
South Korean stocks tumbled nearly 10 percent on June 23 as foreign investors dumped semiconductor shares and other heavyweights. The KOSPI plunged 910.71 points to finish at 8,203.84 after hitting an intraday high of 9,175.45. Trade volume reached 483.7 million shares worth 59.9 trillion won.
The Korea Exchange triggered a circuit breaker at 2:33 p.m. after the index dropped more than 8 percent from the prior close. It was the fourth activation this year and the tenth time on record. Foreign investors sold a net 4.13 trillion won while institutions offloaded 4.55 trillion won.
Samsung Electronics fell 12.31 percent to 310,000 won and SK hynix dropped 12.47 percent to 2.55 million won. The Korean won traded at 1,539.1 won per U.S. dollar, down 2.1 won. Analyst Seo Sang-young of Mirae Asset Securities cited valuation concerns after repeated record highs for chip stocks.
