KOSPI Index Decline Widens to 8%, Samsung Electronics Falls Nearly 10%, SK Hynix Drops Over 6%

TradingKey – On June 8, Seoul time, the KOSPI index plunged more than 8% in early Monday trading, triggering a Level 1 circuit breaker and a 20-minute trading halt, following a more than 10% slump in the Philadelphia Semiconductor Index last Friday and mounting fears over interest rate hikes.

Boosted by news of Nvidia's collaboration with companies like SK Group and LG Electronics, the decline narrowed to approximately 4.8% before noon, but selling pressure intensified in the afternoon, pushing the index further down to break below 7,500 before the close. The KOSDAQ index's afternoon losses expanded to 8%, triggering a circuit breaker and a 20-minute trading suspension.

As of press time, the KOSPI index was at 7,485.15 points, down 8.28%.

[Source: TradingView]

Heavyweight stocks were under pressure across the board. Samsung Electronics fell nearly 10%, and SK Hynix dropped over 6%. AI concept stocks briefly bucked the trend to rise on expectations of Nvidia partnerships, but gains narrowed in the afternoon; as of press time, NAVER was up approximately 10.57%, and SK Telecom was up about 1.41%.

The Korea Exchange held an emergency meeting on Monday to evaluate market volatility and discuss stabilization measures. Analysts stated that while short-term volatility risks persist, the long-term investment logic for the AI industry chain remains unchanged.