Finance

KOSPI slumps more than 7 percent as Samsung Electronics, SK Hynix tumble

South Korea\'s benchmark KOSPI closed down more than 7 percent on Thursday as heavy losses in major semiconductor stocks weighed on the market. A sell-side sidecar was triggered in the main board early in the session, and another was activated on the Kosdaq in the afternoon, widening volatility. Individuals were net buyers while foreign investors and institutions sold. Samsung Electronics and SK Hynix fell sharply. The won weakened against the dollar.

Finance

KOSPI slides more than 6 percent, triggers 30th sidecar this year

South Korea\'s KOSPI fell more than 6 percent in early trade on July 2, sliding to the 7,800 level as selling hit major chipmakers including Samsung Electronics and SK Hynix. The Korea Exchange triggered a sell sidecar at 9:07 a.m., the 30th activation this year. Individuals and institutions were net buyers while foreigners sold. The won weakened against the dollar.