South Korean Stocks Drop as Chipmakers Reverse Friday’s Record Gains

Price Action
โดย Bloomberg·Read original
Summary · why it matters

South Korean stocks slipped as heavyweight chipmakers faced selloffs after Friday's record gains while investors cut back leverage-backed trades. The Kospi Index dropped as much as 5.5% early Monday, with Samsung Electronics Co. and SK Hynix Inc. both down about 9%, following Friday's surge when Samsung jumped 27% and SK Hynix 30%, a daily record for both. Global investors drove Monday's selloff, unloading more than 1 trillion won worth of the index's stocks in early trading. Homin Lee, senior macro strategist at Lombard Odier Singapore, said the move was likely a payback from Friday's incredible rally, with external headwinds motivating profit-taking and leverage reduction, adding that a strong won and headlines around China's advances in AI and semiconductors were likely adding to the headwinds.

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