South Korea’s KOSPI tumbles over 8%, triggering circuit breaker

South Korea’s KOSPI dropped more than 8% intraday on June 26, triggering a circuit breaker before recovering to close down 519.1 points, or 5.81%, at 8,411.2. Samsung Electronics fell more than 5% and SK Hynix dropped more than 8%, after both had been down about 9% during the session, while foreign investors were net sellers of 2.5 trillion won ($1.6 billion) of KOSPI shares in morning trade. Japan’s Nikkei 225 fell 3,005.46 points, or 4.15%, to 69,360.88, and Taiwan’s weighted index lost 3.82%. The KOSPI fell 7.1% for the week, its largest weekly drop since early March.

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