TradingKey – KOSPI plummets 8% triggering circuit breakers, SK Hynix plunges 13%, sparking tech stock stampede.

On July 13, Asian time, the Korea Composite Stock Price Index (KOSPI) saw its afternoon losses rapidly widen to 8.07%, plunging over 600 points to break straight through the key 7,000-point psychological level, hitting an intraday low of around 6,880 points to set a new two-month low.

KOSPI Index Chart, Source: TradingView

Despite surging in its US ADR listing debut last Friday, it encountered a historic capital liquidation upon returning to the local Seoul market today, with its stock price plunging over 14% to trade at 1,876,000 KRW, hitting June 8 levels and becoming the eye of the storm leading the broader market crash. As…