KOSPI drops 4.7% after futures tumble pauses program trades
Business
South Korea's KOSPI index took a sharp dip on Monday, dropping 4.7% and briefly pausing program trades as futures tumbled.
The index has now slipped 10% from its May 14 record high, but this comes right after a wild rally where it soared from 7,000 to 8,000 in just seven trading sessions.
Analysts call KOSPI correction healthy
Rising yields and worries about a possible Samsung Electronics strike spooked investors.
Still, analysts call this a "healthy price correction," not the end of the road—and the KOSPI is actually up a massive 70% so far this year.
With Samsung prepping for wage talks and big profits thanks to AI chips, experts say it's worth keeping an eye on key stocks as things settle down.