KOSPI Index Drops 1.4% as Semiconductor Sector Faces Continued Selling Pressure

South Korea's KOSPI index erased intraday gains to fall 1.4%, driven by heavy losses in the semiconductor sector, notably SK Hynix down 5.8%, while Samsung Electronics posted a marginal gain.

Woofun AI reports that the South Korean stock market experienced further weakness on July 30, with the KOSPI index declining by 1.4% in afternoon trading. This drop eliminated all previous intraday gains, resulting in a net negative performance for the session.

Sector-specific movements highlighted ongoing selling pressure within the semiconductor industry. SK Hynix shares decreased by 5.8%, contrasting with a modest 0.2% increase for Samsung Electronics.