SK Hynix Market Cap Drops 20% in Two Days as KOSPI Falls 18%

SK Hynix Q2 earnings miss triggers 20% market cap loss and 18% KOSPI drop. July decline exceeds 30%, marking the worst monthly performance in index history.

Woofun AI reports that SK Hynix’s market capitalization declined by approximately 20% over a two-day period following a second-quarter earnings report that missed expectations. The South Korean KOSPI index fell 8% on Wednesday, adding to a 10% drop on Tuesday, resulting in an 18% cumulative decline. The index has decreased by more than 30% in July, positioning this month as the largest historical decline. SK Hynix shares dropped 12% on Wednesday after a 14% fall on Tuesday, reversing earlier gains driven by Samsung Electronics and SK Hynix. Investors are awaiting earnings reports from Samsung Electronics and major U.S. technology companies on Thursday.