South Korea Stock Market Drop: KOSPI Index Crashes Over 8%

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The post South Korea Stock Market Drop: KOSPI Index Crashes Over 8% appeared first on Coinpedia Fintech News

South Korea’s KOSPI fell more than 8%, dropping below 7,700 and triggering sell-side short-selling on both the KOSPI and KOSDAQ markets. More than ₩518.5 trillion ($350 billion) in market value was erased as Samsung Electronics and SK Hynix declined 8.5% and 11.5%, respectively, following an overnight selloff in U.S. semiconductor stocks. Higher-than-expected June inflation of …