Is It the “8,000-Point Curse”? KOSPI Drops to 7,400 After Brief Surge; KOSDAQ Falls 5%

KOSPI Closes Down 6.12%
Driven by 6 Trillion Won in Foreign Selling
Semiconductor Sector Sees Widened Losses

On the 15th, the KOSPI surpassed the much-anticipated "8,000-point" mark, but extended its intraday losses to close at the 7,400 level. The KOSDAQ also declined by 5%, reflecting an overall bearish market.

On this day, the KOSPI finished trading at 7,493.18, down 488.23 points (6.12%) from the previous session. Although it set a new intraday record high at 8,046.78 early in the session, it reversed course due to foreign investor selling, which triggered a sell-sidecar. Foreign investors recorded a net sell of 6.2772 trillion won in KOSPI shares, while institutions sold 2.2302 trillion won. Individual investors purchased a net 8.3656 trillion won.

On the 15th, when the KOSPI index surpassed 8,000 intraday for the first time in history, the domestic stock market indices were displayed on the electronic board in the trading room of Hana Bank in Jung-gu, Seoul. 2026.5.15 Photo by Kang Jinhyung

All industry sectors ended the day lower. The declines included electrical and electronics (-7.64%), medical and precision equipment (-8.75%), construction (-4.04%), telecommunications (-2.68%), finance (-3.77%), securities (-4.61%), insurance (-3.24%), manufacturing (-6.71%), general services (-4.15%), chemicals (-4.67%), and pharmaceuticals (-2.35%).

All large-cap stocks by market capitalization also fell. Samsung Electronics (-8.61%), SK hynix (-7.66%), SK Square (-6.23%), Hyundai Motor (-1.69%), LG Energy Solution (-5.66%), Samsung Electro-Mechanics (-1.37%), Doosan Enerbility (-5.38%), HD Hyundai Heavy Industries (-4.62%), Samsung Biologics (-2.07%), and Kia (-5.67%) all closed lower.

The KOSDAQ closed at 1,129.82, down 61.27 points (5.14%) from the previous session. Foreign investors bought 399.7 billion won, while individuals and institutions recorded net sales of 161.2 billion won and 157.4 billion won, respectively.

Similar to the KOSPI, all top KOSDAQ stocks by market capitalization also ended lower. These included Alteogen (-4.16%), EcoPro BM (-8.85%), EcoPro (-9.21%), Rainbow Robotics (-3.69%), Kolon TissueGene (-2.36%), Samchundang Pharm (-4.20%), LIG Nex1 (-11.56%), LIG ChemBio (-2.30%), HLB (-2.44%), and ABL Bio (-5.02%).

Lee Kyungmin, a researcher at Daishin Securities, analyzed, "After-hours trading in the U.S. market saw SanDisk and Micron fall by -4.6% and -3.1% respectively, which dampened semiconductor investment sentiment." He added, "In addition, heightened uncertainties, such as Samsung Electronics' labor union demanding 15% of the operating profit, have further expanded losses across the semiconductor sector, which was a major factor in the index decline."

Lee also noted, "The weakening expectations for a ceasefire negotiation between the United States and Iran is another negative factor." He added, "U.S. President Donald Trump stated he is considering resuming 'Project Freedom' and mentioned he is now more seriously considering a resumption of hostilities than in recent weeks, reigniting geopolitical risks."

This content was produced with the assistance of AI translation services.