KOSPI and KOSDAQ 5% plunge, semiconductor uncertainty spreads
7 month 8 day, South Korean stocks plunged on concerns that semiconductors had peaked and amid geopolitical tensions, with the KOSPI and KOSDAQ falling by more than 5%. Some analyses said the semiconductor cycle had not ended and suggested the possibility of further gains over the next 2~3 years, while a construction materials company announced that it would be the sole supplier of asphalt concrete to the Yongin semiconductor cluster.
7 month 8 day, South Korean stocks plunged on semiconductor-related concerns and geopolitical tensions, with the KOSPI and KOSDAQ falling by more than 5%. Investors reassessed their portfolio exposure following sharp rises and falls in semiconductor stocks among the companies with the largest market capitalizations.
Several articles and reports said that both talk of a semiconductor peak and fears of war simultaneously contributed to the day's index plunge. Some reports described the day as 'Black Wednesday'.
Meanwhile, some market views assessed that the semiconductor cycle had not yet ended. They also suggested that the cycle could last for another 2~3 years unless big tech companies completely withdraw from large-scale investments.
In a corporate disclosure, SG announced that it would be the sole supplier of all asphalt concrete to the Yongin semiconductor cluster. The contract-related news was classified as being associated with the procurement of materials for the cluster construction site.
The sharp decline was reportedly accompanied by weakness in small- and mid-cap stocks associated with major semiconductor stocks. 7 month 9related articles continued to be published, and investor interest remained strong.
The above is a summary of facts reported from 7 month 8 day to 9 day. Some articles include interpretations and forecasts.