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macroJul 7, 2026, 1:57 AM

South Korea Stocks Shed $170B as KOSPI Falls 4%

South Korea's KOSPI plunged about 4%, wiping out over $170 billion in market value, led by Samsung Electronics despite better-than-expected Q2 earnings.

KOSPI

South Korea's stock market suffered a severe rout, with the KOSPI index falling approximately 4%. This decline erased more than ₩262.3 trillion ($170 billion) in market capitalization.

The selloff was led by Samsung Electronics, the country's largest company, which declined after releasing its second-quarter earnings guidance. Despite reporting earnings that surpassed analyst estimates, investors appeared to take profits following a strong rally.

Source: First Squawk