Kospi Opens Down 0.92% as SK Hynix Falls Over 2% and Samsung Electronics Slips
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On August 11, the KOSPI opened down 0.83% at 6,247.23 points, pressured by underperforming semiconductor heavyweights like SK Hynix and Samsung Electronics, mirroring the weak sentiment from US markets. Despite this, the South Korean government announced a 5 trillion won special semiconductor fund to bolster its "mega-project" and supply chain competitiveness amid rising AI chip demand. Meanwhile, geopolitical instability remains a key risk factor; escalating US-Iran tensions over compensation demands and regional military shifts continue to weigh on investor sentiment, keeping global risk assets vulnerable to potential disruptions in energy supplies and trade.
TradingKey - On August 11, the South Korean stock market opened lower. The Korea Composite Stock Price Index (KOSPI) opened down 0.92% at 6,241.86 points, with heavyweight semiconductor stocks under pressure as SK Hynix fell as much as 2.32% and Samsung Electronics slipped 0.22%. Japanese stock markets were closed for the Mountain Day public holiday.
According to the latest trading data, the KOSPI was down 0.83% at 6,247.23 points. South Korean chip stocks overall performed weakly, with SK Hynix down 1.55% at 1,398,000 won (approximately $987), and Samsung Electronics trading at 230,500 won.
Source: TradingView
Overnight, US stocks also performed weakly. The S&P 500 Index fell 0.06% to close at 7,753.10 points; the Dow Jones Industrial Average fell 0.11% to 53,975.98 points; and the Nasdaq Composite Index fell 0.32% to 26,605.36 points. A lack of clear upward momentum in US tech stocks also put some pressure on the Asian semiconductor sector.
On the news front, the South Korean government further ramped up support for the semiconductor industry, announcing the establishment of a special semiconductor fund worth 5 trillion won and introducing a series of supporting policies to accelerate the implementation of the semiconductor "mega-project" totaling over 576 trillion won. As demand for AI chips continues to grow, South Korea is strengthening the competitiveness of its domestic semiconductor supply chain by expanding policy support and industrial investment.
On the geopolitical front, significant uncertainty remains in the Middle East. US President Trump demanded that Iran pay related compensation and stated that this demand would be included in future negotiations, while claiming that the US military has "100% control" over the Strait of Hormuz. On the Iranian side, intensive military personnel reshuffles occurred, with the Supreme Leader appointing six senior military commanders. The market continues to watch whether US-Iran tensions will further affect energy supplies and the performance of global risk assets.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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