Kospi Plunges 19%, Bitcoin Slips to $63,000 Amid Rate Hike Fears

The Kospi has plummeted by 19% over the past five trading sessions due to a semiconductor stock selloff led by Samsung Electronics and SK Hynix.

The index closed at 5,663 on July 29, down 5.9% from the previous session, marking its first close below 6,000 since April.

Brokerages are cautious about a short-term rebound in the Kospi, but improved market flows and policy intervention could provide an opening for recovery.

Bitcoin has also slipped back toward the $63,000 level, weighing on sentiment due to concerns over possible US rate increases and rising caution over artificial intelligence investment.