TREE NEWS reports: South Korea’s KOSPI closed down 3.65% at 6,384.25 on October 12, with Samsung Electronics falling 4.39% to 250,500 won and SK Hynix dropping 4.52% to 1,605,000 won. Foreign investors net sold nearly 2 trillion won of Korean stocks that day, about 29.7 trillion won over the past month. The index has fallen almost 32% from its June 22 high of 9,385.59.
KOSPI Falls 3.65% as Samsung, SK Hynix Slide; Foreign Investors Sell $2B in a Day
The scale of foreign selling is the story here: roughly 2 trillion won in a single session and about 29.7 trillion won over a month points to sustained institutional exit rather than a one-day risk-off move, and the concentration of declines in Samsung and SK Hynix shows the selling is hitting the market's heaviest index weights first. A drawdown of nearly 32% from the June high puts this in correction territory, which matters well beyond Korean equities given those two names' centrality to global memory and AI hardware supply chains. Whether foreign outflows keep pace, and whether the memory complex stabilizes, is the open question.
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