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South Korea's KOSPI Index Falls 4% Amid Foreign Selling of 1.6 Trillion Won in Morning Trading
According to Gate data, the Korea Composite Stock Price Index (KOSPI) briefly surged to the 8,000-point mark in early trading before retreating, currently down 4%. Foreign investors sold 1.6 trillion won worth of KOSPI stocks during the morning session. Samsung Electronics, SK Hynix, and SK Square were the main drags on the index. The market is watching Samsung Electronics' wage negotiations with the union and potential strikes, with shares in Samsung Electronics falling as much as 5.1% at one point.
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