'Black Wednesday': KOSPI Plummets 5% to 7,200 Range, KOSDAQ Also Drops Over 5%

The KOSPI fell 5.35% to the 7,200 range today (July 8), marking another sharp decline following yesterday's drop.

The KOSPI, which fell 4.91% yesterday, has now declined for three consecutive days this week, including a 0.46% drop last Monday.

The KOSPI closed at 7,246.79, down 409.52 points from the previous day.

Due to the sharp decline in the index, the total market capitalization of the KOSPI shrank to approximately 5,931 trillion won.

This is the first time the KOSPI market capitalization has fallen below 6,000 trillion won at closing since May 20, seven weeks ago.

The index opened at 7,452.48, down 203.83 points (2.66%) from the previous session. It briefly turned upward in early trading, rising 1.77% to 7,791.66, but subsequently turned downward again, plunging 6.14% to 7,186.21 and at one point falling to the 7,100 range.

At 1:31 p.m., a sell-sidecar was triggered for one minute as the KOSPI 200 futures index fell by more than 5%.

Following this, a sell-sidecar was also triggered for the KOSDAQ market at 1:33 p.m.

The KOSDAQ index closed at 785.00 today, down 46.23 points or 5.56%. This is the first time in about 10 months since September 4 of last year that the KOSDAQ index has fallen below the 800 mark during trading hours.

Meanwhile, the won-dollar exchange rate closed at 1,498.5 won as of the 3:30 p.m. reference rate, down 29.7 won.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.