KOSPI Rebounds Above 8,000 After Week-Long Sell-Off Triggered by AI Chip Concerns

According to Chosun Biz, the South Korean KOSPI index fell from 8,400 to a low of 7,300 during the week of June 29-July 3 amid concerns that AI-driven semiconductor demand may be slowing, but recovered above 8,000 by Friday's close. Foreign investors sold a net 19.43 trillion Korean won of equities during the period, while semiconductor export data showed strength with June shipments climbing 199.5% year-over-year to $44.8 billion.

This week's COSPI performance may hinge on two catalysts: Samsung Electronics' second-quarter earnings release on July 7 and SK Hynix's Nasdaq ADR listing on July 10. Analysts said Samsung's operating profit is expected to meet or exceed the 84.8 trillion won consensus, while SK Hynix's listing could trigger revaluation versus U.S. peers and attract passive fund flows.