Seoul's main stock index tumbled on Monday, giving back a large portion of the previous session's record-setting gains, according to 연합인포맥스. The KOSPI dropped sharply, with heavyweight semiconductor stocks Samsung Electronics and SK Hynix both falling around 7%.
The reversal came just one day after the index posted its largest single-day jump on record. The pullback was driven by foreign investor selling, which reignited losses across the broader market, according to reports from v.daum.net. The index retreated to the 6,200-point range, a notable step down from the 6,300 level it had touched following the surge.
The sharp swing highlights the volatility in the current market, particularly around the two dominant chipmakers. The "odd-even" trading pattern in Samsung and SK Hynix has left retail investors fatigued, according to 매일경제 마켓. As a result, individual investors are shifting their bets toward growth stocks on the junior Kosdaq market, which saw a buy-side circuit breaker triggered during the session as buying pressure intensified.
The KOSPI's decline on Monday underscores the fragility of the recent rally, which had been fueled by expectations of improved corporate governance. While that theme remains intact, according to v.daum.net, the market is struggling to hold gains amid profit-taking and external selling pressure.
The Kosdaq's activation of a buy-side sidecar—a mechanism that temporarily halts trading to cool excessive buying—signals that retail money is rotating into smaller, higher-growth names even as the main board retreats.
Investors will be watching whether foreign selling persists and whether the chip sector can stabilize, as the KOSPI's near-term direction hinges on the two stocks that dominate its weighting. The contrast between the main board's slide and the junior market's surge suggests a market in transition, with participants searching for new leadership beyond semiconductors.
