Today's Market Briefing — 2026-06-26

---

Major Market Issues

1. KOSPI circuit breaker triggered amid extreme volatility

On the 26th, the KOSPI plunged more than 8% intraday, triggering both a sell-side sidecar and a circuit breaker. Over the last four trading sessions, the index has shown extreme volatility, moving from -9.99% to +3.26%, +5.42%, and -9% during the day. This marks the first time since the inception of the domestic stock market that a circuit breaker has been triggered twice in a single week, following the event on the 23rd.

2. 8 trillion won sell-off by foreign and institutional investors

The KOSPI closed down approximately 6% on the 26th due to massive selling by foreign and institutional investors. The sell-off was exacerbated by month-end rebalancing and a concentration of selling pressure on large-cap semiconductor stocks.

3. KOSPI 200 Volatility Index hits all-time high

As the KOSPI experienced a roller-coaster session, the KOSPI 200 Volatility Index, often referred to as the "Korean fear index," soared to its highest level ever.

---

Hot Themes and Notable Stocks

1. Honam semiconductor and power supply-related stocks: 11 stocks including Gwangju Shinsegae and Kumho E&C hit the daily limit

Despite the KOSPI crash, regional stocks benefiting from positive news regarding semiconductor development and power shortages in the Honam region hit the daily limit. 11 stocks, including Gwangju Shinsegae and Kumho E&C, reached their upper price limits as investors flocked to specific themes despite the market's extreme volatility.

2. Profit-taking sell-off in semiconductor stocks

Large-cap semiconductor stocks such as Samsung Electronics (005930) and SK Hynix (000660) are seeing heavy losses. Analysts suggest that the concentration of leverage in individual stocks and a wave of profit-taking following recent gains have intensified the decline in the index.

---

Macro Context

Chain reaction of global financial market weakness

The Japanese Nikkei index plummeted 3,700 points in a single day from its previous record high, and the U.S. stock market also showed weakness, particularly in tech stocks. The triggering of a circuit breaker on the Korean KOSPI has added to the panic in global markets.

Impact of month-end rebalancing

Selling by foreign and institutional investors due to end-of-first-half portfolio rebalancing has significantly amplified market volatility. Market experts are suggesting that this sharp decline could be a one-day shock.

Weakness in oil and raw materials

Oil prices have fallen to their lowest levels in several months, which is being interpreted as a sign of concern regarding a global economic slowdown.

This report is based solely on researched data; investment responsibility rests with the individual.