KOSPI suffers sharp sell-off, records worst 1-day drop since Nov. 2025

SEOUL, Feb. 2 (Xinhua) -- South Korean stocks closed sharply lower on Monday, with the benchmark Korea Composite Stock Price Index (KOSPI) plunging more than 5 percent to record its steepest one-day decline since Nov. 21, 2025.

Seoul stocks tumbled 274.69 points, or 5.26 percent, to close at 4,949.67 points, with losses deepening in the afternoon session, Yonhap News Agency reported.

According to Yonhap, institutional and foreign investors led the rout, unloading shares of major semiconductor and large-cap technology firms, as concerns mounted over tighter global financial conditions following recent developments in U.S. monetary policy.

Market bellwether Samsung Electronics ended lower, while chipmaker SK hynix suffered steeper losses, alongside declines in automakers, battery makers and defense stocks.

The Korean won weakened sharply against the U.S. dollar, which was quoted at 1,464.3 won as of 3:30 p.m. local time, up from 1,439.5 won in the previous session.■