Korea Exchange Last Week: KOSPI Ends Down 11% After Record Crash, KOSDAQ Limits Damage
On Friday, South Korea’s KOSPI barely budged, finishing almost flat, though over the past week it still sank roughly 10.6% from Feb. 27—one of the sharpest drops in its history. The KOSDAQ, which tracks smaller tech and biotech names, closed the day at 1,154.67, eking out a gain for Friday but holding about 3.2% below where it stood a week ago. The swing hits hard here, with Seoul’s market barely over 6,000 after smashing through that barrier for the first time on Feb. 25, powered by chipmakers riding the artificial intelligence surge. Just a week ago, the rally looked relentless. Now, the KOSPI’s vulnerability to oil jumps and heavy foreign bets is hard to miss.