KOSPI Plunges 4.59% Despite Deputy PM's Stability Pledges

South Korean markets ignored official stability assurances, with KOSPI dropping 4.59% and chip giants SK Hynix falling 10.3%, signaling persistent external shock vulnerability.

Woofun AI reports that South Korea's Deputy Prime Minister Hong Nam-ki asserted this morning that the government possesses adequate policy instruments to counter market volatility stemming from overseas risks, noting that the current stock-specific decline is anomalous.

Despite these assurances, the KOSPI index closed down 302.82 points, or 4.59%. Major semiconductor stocks suffered heavy losses, with SK Hynix dropping 10.3% and Samsung Electronics declining 6.3%, continuing a trend of net losses for the week following last Friday's rebound.