South Korea’s KOSPI Falls 8% as SK Hynix Drops More Than 11%

South Korean equities suffered a sharp intraday selloff, with the KOSPI falling 8% as losses in major chipmakers deepened the move. The declines put the country's stock market and semiconductor shares in focus for U.S. investors tracking global risk appetite.

The KOSPI stood at 5,527.29 points after sliding 8.00% during the session. SK Hynix fell more than 11%, while Samsung Electronics dropped more than 9%. SK Hynix's decline was larger than Samsung's, and both companies fell more than the index.

Trading in the KOSDAQ, South Korea's junior stock market, was suspended for 20 minutes after a circuit breaker was triggered. The pause added a separate market disruption to the sharp drop in the KOSPI and declines in the two chipmakers.

Taken together, the index drop, KOSDAQ pause and declines at two major semiconductor companies show the selloff affected several parts of South Korea's equity market. That breadth makes the session relevant to investors watching global risk appetite and semiconductor trading, the two areas highlighted by the move.