STOCKS | South Korean and Japanese Stock Markets Experience Sharp Declines

On May 15, South Korean stocks saw a significant drop, ending a five-week streak of gains. According to Jin10, the Korea Composite Stock Price Index (KOSPI) closed down by 488.23 points, or 6.12%, at 7,493.18 points, marking a weekly decline of 0.1%. Earlier in the day, the index had risen by 0.82% to reach a record high of 8,046.78 points. Major stocks such as Samsung Electronics fell by 8.61%, SK Hynix by 7.66%, and battery manufacturer LG Energy Solution by 5.66%. Foreign investors sold off stocks worth 5.6 trillion Korean won (approximately $3.73 billion). In Japan, the Nikkei index also experienced a sharp decline on Friday, leading to a weekly loss as traders sold off strong-performing tech stocks ahead of the weekend. The Nikkei fell by 2%, or about 1,245 points, closing at 61,409.29 points, after an earlier rise of 0.9%. Advantest, a chip testing equipment manufacturer, was the biggest drag on the index, plummeting by 7.9%. Meanwhile, the Topix index rose by 0.9% for the week, while the Nikkei dropped by 2.1%.