SEOUL, February 05 (AJP) -Korean stocks rode a volatile roller coaster downward Thursday on heavy foreign selling on global tech shares.
The benchmark KOSPI tumbled 3.9 percent to close at 5,163.6, marking a steep pullback from recent record highs. The KOSPI 200 slid 4.2 percent to 757, reflecting broad-based losses among large-cap stocks, particularly in semiconductors and export-oriented names.
Selling pressure was led by overseas and institutional investors. On the main board, foreigners dumped 5.01 trillion won ($3.43 billion), while institutions sold 2.07 trillion won. Retail investors stepped in aggressively to pick up a net 6.78 trillion won, although their dip-buying fell short of stemming the decline.
The bullish sentiment was soured by overnight losses in global technology stocks. Shares of Advanced Micro Devices plunged more than 17 percent after issuing first-quarter revenue guidance pointing to a quarter-on-quarter decline. The weakness spread across the sector, with ASML down about 4 percent, while Nvidia and Broadcom each fell roughly 3 percent, dragging down global tech sentiment.
Korean semiconductor and platform stocks followed suit. Heavyweights led losses on the KOSPI, with Samsung Electronics falling 5.8 percent to 159,300 won and SK hynix sliding 6.4 percent to 842,000 won, reflecting heightened sensitivity to global chip-sector weakness.
Automakers and internet stocks also retreated. Hyundai Motor fell 3.1 percent, while NAVER lost 2.8 percent.
Defense and shipbuilding names also came under pressure. Hanwha Ocean dropped 5.8 percent, while Hanwha Systems plunged 9.5 percent. Pharma Research tumbled 23.4 percent, marking one of the session’s steepest single-stock declines.
Amid the broad selloff, solar-related stocks emerged as a rare pocket of strength. HD Hyundai Energy Solutions surged 16.2 percent to close at 81,900 won after soaring more than 25 percent intraday before paring gains. Hanwha Solutions also edged higher, rising 0.14 percent to 36,500 won.
Market participants attributed the buying interest to improving prospects for the global solar market, supported by management comments pointing to stronger demand and pricing momentum in the U.S. solar sector.
Sector-wise, losses were widespread, with only a handful of pockets showing resilience. Office equipment-related stocks posted gains, with the sector rising 4.37 percent, topping industry performance.
The tech-heavy KOSDAQ mirrored the downturn, falling 3.6 percent to 1,108.4. Foreign investors sold 286.1 billion won, while institutions offloaded 539.9 billion won. Retail investors bought 903.4 billion won, signaling selective dip-buying in smaller-cap shares despite elevated volatility.
On heavy foreign selling, the won weakened to 1,463.6 per U.S. dollar, down 3.1 won, or 0.21 percent.
The damage was softer across Asia. Japan’s Nikkei 225 fell 0.9 percent to 53,818.04, China’s Shanghai Composite slipped 0.6 percent to 4,075.9, while Hong Kong’s Hang Seng Index held up, rising 0.1 percent to 26,880.3.
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