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South Korea's benchmark KOSPI index extended its losses to 3.2%, with the move driven by significant foreign selling in semiconductor and technology stocks.
The more interesting question is whether the exit is conviction-driven or mechanical, because the answer shapes what the 3.2% actually tells you.
Foreign investors selling major semiconductor and technology names is not the same thing as broad domestic rotation.
Korea's chip and tech companies carry disproportionate weight in the KOSPI, and when international capital targets them specifically, the index has little room to absorb the pressure.
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