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KOSPI plunges about 38.5% after hitting a record June high
The index fell from 9,385.6 on June 22 to finish at 5,593.6, as investors cited AI and semiconductor selloffs alongside renewed US-Iran war risks.
South Korea's KOSPI dropped sharply after topping out near a record level on June 22, 2026. The index finished at 9,114.55 on June 22, then slid to 5,593.56 in the latest session, a decline of roughly 38.5% since the record-high close of 9,385.59.
LiveMint Markets linked the retreat to a broader reset in global markets after the burst of the AI bubble, saying technology, particularly AI and semiconductor stocks, has been under pressure. The outlet also pointed to renewed concerns around the US-Iran war, which it said has added uncertainty for investors across Asia.
According to LiveMint Markets, mounting concerns about China have also weighed on Asian bourses, contributing to the selloff. The report further cited volatility and rising crude oil prices tied to the geopolitical backdrop, which it said are complicating investors' willingness to buy into the declines.
Market participants quoted by LiveMint Markets emphasized the difficulty of committing capital amid high swings. Pictet Asset Management's Young Jae Lee said Korea's core problem is elevated volatility, while Fidelity International's Ian Samson said investors need to be careful about buying too aggressively due to that volatility.
Latest closeWTI crude $84.41 ▲6.5%|Kospi 6,023.66 ▼10.8%