Seoul Stocks Plunge Over 5 Percent Amid Semiconductor Profit Taking
3 sources across 2 countries · South Korea · United Kingdom · 1 of them is linked to a state
Who reported this
- Yonhap
- The Korea Herald
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.
Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.
The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 338 points, or 5.12 percent, to close at 6,257.45 on Monday. This decline follows a record surge on Friday where the index rose by nearly 18 percent. The market was weighed down by foreign and institutional investors who offloaded a combined net 4.77 trillion won, while retail investors purchased a net 4.65 trillion won.
Analysts attribute the drop to profit taking in semiconductor heavyweights. Samsung Electronics tumbled 8.76 percent to 239,500 won, and SK hynix shed 8.79 percent to 1,567,000 won. These two chip giants had previously risen nearly to their daily permissible limits on Friday. Other sectors saw mixed results: Hyundai Motor rose 1.29 percent and Hanwha Aerospace rose 0.22 percent, while oil refiners S-Oil and GS fell 4.4 percent and 4.94 percent respectively due to declining oil prices.
External factors influenced investor sentiment, including a statement from U.S. President Donald Trump regarding the cancellation of a military assault on Iran. The South Korean won also weakened, quoted at 1,429.8 won against the U.S. dollar at 3:30 p.m. down 5.8 won from the previous close. In the bond market, the yield on three year Treasurys fell 1.6 basis points to 3.742 percent.
How each side framed it
- Centre
- Outlets with a center lean focused on the technical data of the stock plunge and the specific impact on the semiconductor sector.
- Centre-right
- Outlets with a center-right lean emphasized the profit taking by foreign investors and the specific movement of the local currency against the dollar.
Sources
- Centre Reuters: Big investors think it might be time to buy in South Korea - Reuters
- Centre-right The Korea Herald: Seoul stocks dip over 5% on chip sell-off after record surge
- Centre Yonhap: BOK to buy domestically produced gold for 1st time in 13 years
- Centre Yonhap: (2nd LD) Seoul stocks dip over 5 pct on chip sell-off after record surge
- Centre Yonhap: (LEAD) Seoul stocks dip over 5 pct on chip sell-off after record surge
- Centre Yonhap: (URGENT) Seoul stocks dip over 5 pct on chip sell-off after record surge
- Centre Yonhap: (3rd LD) Seoul stocks dip over 5 pct on chip sell-off after record surge
- Centre Yonhap: Seoul stocks dip over 5 pct on chip sell-off after record surge
- Centre Yonhap: S. Korean won weakens against U.S. dollar on foreign selling in local stocks
100% of the statements in this article were traced back to the source articles listed above.