KOSPI 5% plunge, Samsung Electronics and SK hynix fall sharply
7month 8At the close of trading, the KOSPI fell 5.4%, while the KOSDAQ closed down 5.6%. Samsung Electronics fell 6.25%, and SK hynix, after falling 5.68%, dropped below 200ten thousand won in after-hours trading. SK hynix’s American depositary receipt (ADR) offering was oversubscribed.
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7month 8At the close of trading, the KOSPI fell 5.4%, while the KOSDAQ closed down 5.6%. The sharp drop in the indices occurred alongside steep declines in large-cap stocks.
Early in the session, the KOSPI showed a recovery trend above the 7,700level. At that time, SK hynix also posted gains in the 4% range.
In the afternoon, the KOSPI reversed course and plunged, closing down 5.4%, while the KOSDAQ closed down 5.6%.
Samsung Electronics fell both intraday and at the close by 6.25%. SK hynix ended the session with a 5.68% decline at the close.
SK hynix is conducting a public offering of American depositary receipts (ADRs), and the offering was oversubscribed. The offering news reportedly affected investor sentiment during the session.
In after-hours trading after the close, SK hynix shares fell below 200ten thousand won. This figure is based on the close at the end of 7month, 8day.
The stock market showed significant volatility overall that day. Trading conditions and the schedule related to the offering need to be confirmed through additional disclosures.