South Korea’s KOSPI Falls 5.6% as Both Indexes Trigger Sell Sidecars

A steep decline in South Korean equities hit both the KOSPI and KOSDAQ on Nov. 5, with the KOSPI down 5.6% in a risk-off move relevant to semiconductor and crypto-market investors. Sell-side sidecars were triggered on both indexes, while SK Hynix shares fell 10%. The chipmaker’s drop was 4.4 percentage points deeper than the KOSPI’s, highlighting the stronger pressure on the semiconductor stock. The simultaneous triggers show the selloff was not confined to one benchmark. The move was smaller than a previous selloff on July 29, when the KOSPI fell more than 10% intraday and SK Hynix lost nearly 16%.

Source: TokenPost