KOSPI Slides to 7,600s After Nearing 8,000 as Chip Crowding Bites

On May 12, 2026, the KOSPI closed at 7,643.15, down 179.09 points, or 2.29%, from the previous session. It climbed to 7,999.67 shortly after the open, nearly reaching 8,000, then dropped to 7,421.71 before recovering part of the loss. According to hankyung.com, Han Ji-young of Kiwoom Securities said the main reason was a strong concentration in semiconductor stocks, with profit-taking pressure rising after a sharp short-term rally. Through the previous day this month, the KOSPI had gained 18.54%, while Samsung Electronics and SK Hynix rose 29.48% and 46.19%, respectively. Foreign investors net sold 6.621 trillion won in shares and 213.9 billion won in KOSPI 200 futures, while institutions sold 1.4191 trillion won. The report warned that crowding in a few sectors could keep causing volatility for now.