KOSPI Today: South Korea’s benchmark KOSPI index triggered a five-minute halt in program selling after opening sharply lower on Monday (August 3). The benchmark opened with a steep gap-down and tumbled as much as 5.5 per cent in early trade, following a historic rally on Friday.
As of 7:50 am, the KOSPI was trading at 6,371.97, down 3.4 per cent or more than 220 points. Earlier in the session, the index fell to an intraday low of 6,231.66, marking a decline of 5.5 per cent from its previous close of 6,595.45.
Friday’s rally driven by AI optimism
The sharp decline comes after the benchmark staged a strong rebound on July 31, when stronger-than-expected earnings from major US technology companies, led by Microsoft’s quarterly results, reassured investors that heavy AI spending is beginning to generate returns.
On July 31, the KOSPI surged around 19 per cent intraday to 6,630.77 as investors returned to beaten-down technology stocks.
The earnings revived confidence in AI-related investments globally and triggered a broad rebound in semiconductor stocks, lifting heavyweight Korean chipmakers such as Samsung Electronics and SK Hynix and, in turn, the broader KOSPI index.
Samsung Electronics, SK Hynix weigh on benchmark
In Monday’s session, the benchmark came under pressure as two heavyweight constituents, Samsung Electronics and SK Hynix, declined sharply. Together, the two companies account for more than half of the benchmark’s total market capitalisation.
As of 8:00 am, Samsung Electronics shares were trading more than 7 per cent lower at KRW 244,000.
Around 7:40 am, SK Hynix shares were down 6.4 per cent at KRW 244,000. The stock had earlier fallen to a low of KRW 1,563,000, reflecting a decline of 9 per cent from its previous close of KRW 1,718,000.
Samsung Electronics, SK Hynix stock performance
Samsung Electronics shares have surged more than 120 per cent year-to-date despite declining 21 per cent over the past month. Meanwhile, SK Hynix has delivered an even stronger performance, soaring around 164 per cent so far this year.
Today’s decline, following the benchmark’s stellar performance in the previous session, cements the argument that the KOSPI has emerged as one of the world’s most volatile equity benchmarks in 2026.
The benchmark’s performance has largely been shaped by developments related to artificial intelligence (AI), semiconductor stocks, and shifts in global risk sentiment.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
