South Korea's Kospi Falls Over 40% From June Peak as Chip Giants Drag Index Lower

On July 28–29, 2026, South Korea's Kospi dropped over 40% from its June peak — nearly 11% one day, then as much as 12.6% the next. SK Hynix and Samsung, together over half the index's market cap, fell 13–16%+. SK Hynix's record Q2 earnings missed estimates and offered no forward catalysts. That concentration turned a single-stock shock into a systemic rout.