South Korea's KOSPI index fell sharply by about 7.25% early Monday, breaking its recent strong performance this year. The drop is linked to a 15% decline since last Tuesday, heavily influenced by major memory-chip companies Samsung and SK Hynix. The sell-off was triggered by Broadcom's weak AI semiconductor revenue forecast and compounded by geopolitical tensions, including missile attacks between Iran and Israel. US futures show mixed reactions, with Nasdaq futures slightly up, but volatility is expected when US markets open, especially for tech stocks reliant on Korean memory supply like NVIDIA and Apple. The KOSPI has started to rebound, but uncertainty remains high.
Direxion Daily MSCI South Korea Bull 3X Shares (KORU) dropped about 42% on June 5, 2026, driven by a 14% fall in the underlying MSCI Korea index, which is heavily weighted in memory chip makers Samsung Electronics and SK Hynix. The sell-off followed ...
South Korea's financial markets have surged in 2024, with several ETFs gaining over 100% year-to-date, fueled by the country's dominance in high bandwidth memory (HBM) chips and a weaker won that boosts export competitiveness. Major companies like Sa...
