KOSPI Falls 7.57% to 7475.94 on July 10, Weekly Decline Driven by Chip Sector Selloff

According to Korea Exchange, KOSPI fell 612.40 points (7.57%) to close at 7475.94 on July 10, down from 8088.34 the previous week. Foreign investors net sold 4.34 trillion Korean won, while retail traders and institutions net purchased 3.27 trillion and 832.5 billion won respectively. Analysts note KOSPI's forward price-to-earnings ratio (PER) compressed to 6.17x, lower than the 6.27x level during the 2008 financial crisis, suggesting the index faces extreme undervaluation despite solid earnings growth and upward guidance revisions for semiconductor manufacturers including Samsung Electronics and SK Hynix.
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