Global & Korea Equity Market Intelligence — 2026-06-24

Market Snapshot — By the Numbers

Korea Market Deep Dive

1 sources

kedglobal.com

kedglobal.com

KOSPI

• Close: 8,847, down 425 points (−4.6%)
• Day range: 8,745 – 8,950 (high volatility; circuit breaker triggered)
• Volume/turnover: Surged on panic selling
• Foreign/institutional flow: Net selling of KRW 2.1 trillion (foreigners offloaded Samsung, SK Hynix)

The KOSPI hit its second circuit breaker of June as foreign investors exited chip positions amid a global tech rout. Losses picked up steam right after the opening bell, fueled by a weak Nasdaq session and growing concerns over semiconductor demand.

KOSDAQ

• Close: 2,634, down 121 points (−4.4%)
• Day range: 2,590 – 2,670
• Leadership: Tech and chips led the drop, while biotech held up relatively well.

KOSDAQ mirrored the KOSPI’s decline, with smaller tech firms and secondary chip suppliers facing heavy sell-offs.

Top Movers (Korea)

Gainers

Defensive plays and healthcare saw the least damage:

• POSCO Future M (+1.8%): Battery materials held up thanks to signs of EV stabilization in June export data.
• Celltrion (+0.9%): Investors turned to biotech as a safer bet during the chip panic.

Losers

• SK Hynix (−12.1%): Hit by fears of a memory chip demand collapse and an HBM4E supply glut, despite its previous status as Korea’s most valuable firm.
• Samsung Electronics (−12.3%): Foreign selling crushed both logic and memory divisions, while TSMC’s foundry competition added pressure to their outlook.
• Kioxia ADR proxy (−15%+): Flash memory woes spilled over, hurting Korean suppliers.

Sector Flows

• Semiconductors: Massive underperformance (−5.2% basket). SK Hynix and Samsung Electronics both fell nearly 12% as foreign investors sold off over worries about AI chip order books and shrinking HBM margins. Trading was halted twice by circuit breakers.

• Batteries & EV: Moderate decline (−2.1%). LG Energy Solution (−1.9%) and POSCO Future M (+1.8%) split ways as EV cycles stabilize, though cost pressures remain. The sector is seen as defensive compared to chips.

• Biotech & Healthcare: Outperformed (−0.4%). Celltrion (+0.9%) and Samsung Biologics (−0.3%) saw steady interest as money rotated out of high-beta tech.

Global Drivers Behind Today's Tape

• AI Chip Demand Shock: With Micron Technology earnings approaching on June 24 (US), investors pre-emptively dumped chip stocks, citing supply glut fears and cooling data center capex. The Nasdaq semiconductor index fell 3.8%.

• Fed Rate-Hike Expectations: The 10-year Treasury yield climbed 12 bps to 4.51% after Bank of America analysts flagged the potential for a Fed rate hike in late 2026 under Chair Kevin Warsh. Higher yields put pressure on growth and tech.

• Foreign Capital Outflow from Korea: The KRW slid 0.8% against the USD to 1,305 as foreign holders of Samsung and SK Hynix cashed out. Total net selling is estimated at roughly USD 2.1 billion.

• Oil Price Volatility: Brent crude dipped 1.2% to $82/bbl on growth fears and stagnant US–Iran peace talks. Deflationary pressure usually helps long-duration tech, but the sector rotation took a bigger toll today.

Asia Read-Through

The 4.6% plunge in Korea and the circuit breaker are set to rattle Thursday's Asia open. Hang Seng futures are signaling a 1.5% drop due to tech exposure, and the Nikkei is expected to track lower by 0.8%, pressured by Nintendo and SoftBank Vision Fund holdings. The KRW/USD will likely remain near 1,305–1,310, putting margin pressure on Korean exporters. Expect ADRs for KB Financial, POSCO, and LG Chem to open significantly lower in the US.

What to Watch Next

• Economic releases: Micron Technology earnings (June 24 US pre-market); Korea consumer sentiment index (June 25); US initial jobless claims (June 26)
• Earnings on deck: Broadcom guidance risks, Samsung’s semiannual guidance reset, and SK Hynix’s memory pricing notes.
• Key technical levels: KOSPI support at 8,700; KOSDAQ 2,580.
• Macro watch: KRW/USD (1,305 is the resistance level); 10-year Treasury yield (levels above 4.50% signal more tech trouble).

Reader Action Items

• Korean retail investors: Sit tight and avoid buying the dip in Samsung/SK Hynix until foreign selling eases and earnings forecasts stabilize. Consider rotating into POSCO Future M or biotech if things drop further.
• Holders of Korean assets: Hedge your KRW risk with put spreads or trim positions. KB Financial ADRs might look attractive if the won stabilizes after this sell-off.
• Contrarian view: SK Hynix’s HBM dominance (60%+ market share) and Samsung’s foundry roadmap are still solid long-term. This oversold state might interest long-term call buyers once there is more clarity after earnings.

Report compiled from: Bloomberg, Reuters, Korea Times, CNBC, TheStreet, TradingKey, Schwab market updates, June 23–24, 2026.