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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.