South Korea's KOSPI Falls 5.72%, KOSDAQ Down 5.32% on July 24 as Circuit Breakers Triggered

According to Maeil Business Newspaper, South Korea's KOSPI index fell 5.72% to 6,690.62 and KOSDAQ dropped 5.32% to 748.22 today (July 24), with both markets triggering sell-side circuit breakers at midday. Samsung Electronics declined 7.59% to 249,500 won, while SK Hynix fell 8.34% to 1.759 million won.

Foreign investors net sold 3.28 trillion won worth of KOSPI shares, the largest daily outflow in 22 days. Market weakness was driven by surging crude oil prices above $100 per barrel amid Middle East tensions and growing expectations of U.S. interest rate hikes at next week's FOMC meeting.