KOSPI drops 3.65% despite Samsung's record quarter: a 31% hole needs a 45% rally to refill
South Korea's KOSPI fell 3.65% Monday to 6,384, its fourth straight loss, days after Samsung Electronics posted record earnings. Samsung dropped 4.39% and SK hynix 4.52%.
The index is now ~31% off its June peak. Math on that: it needs a 45% rally just to get back to even.
Record profits didn't matter once Samsung's buyback ended.
Sources: Seoul Economic Daily: foreigners dump 200 trillion won in KOSPI this year; Samsung buyback completed, SK hynix nearing e · Yonhap: KOSPI closes down 241.69 points, or 3.65%, at 6,384.24, fourth losing session · @BullTheoryio: KOSPI has crashed -31% from its June peak and remains in bear market territory · X story: KOSPI Plunges 3.65% in Tech Selloff, Enters Bear Market
Not financial advice. For informational and educational purposes only.
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