KOSPI -3.25%, Foreign Investors Dump ₩7.3T for 9th Straight Session; Hyundai Motor (005380.KS) -8.9%

Korean equities suffered their sharpest single-session loss in weeks on May 19, with the KOSPI falling 244.38 points (-3.25%) to close at 7,271.66. The KOSDAQ declined 26.73 points (-2.41%) to 1,084.36. At the session low the KOSPI had shed nearly 5% intraday before a partial recovery into the close.

Record-Pace Foreign Outflows

Foreign investors sold a net ₩7.34 trillion (approximately $4.9 billion) on the Korea Exchange on May 19 alone — their ninth consecutive session of net selling. Cumulative outflows since May 7 now stand at ₩48 trillion, a pace that has pushed the KOSPI down 9.6% from its May 15 peak of 8,046.78.

Catalyst: US Semiconductor Sell-Off

The immediate trigger was an overnight rout in US chip names. Micron Technology ($MU) fell 5.95% and SanDisk ($SNDK) dropped 5.3% in New York, rekindling debate over whether memory semiconductor demand has peaked. That concern translated directly into Korean chip stocks at the open.

Large-Cap Movers

Hyundai Motor (005380.KS): -8.9% — largest decline among large-cap names

SK Square (402340.KS): -6.68%

Doosan Enerbility (034020.KS): -5.44%

SK Hynix (000660.KS): -5.16%, closing at ₩1,745,000

Samsung SDI (006400.KS): -4.27%

Samsung Electronics (005930.KS): -1.96%

Defense names were the exception: Hanwha Aerospace gained 4.81% and LIG Nex1 rose 2.74% on elevated Middle East tensions following a U.S. announcement of a temporary pause in Iran strike plans.

KRW/USD Hits 1.5-Month High

The won weakened to ₩1,507.8 per dollar at the close, up 7.5 won on the day and the highest since April 2. Intraday the pair briefly touched ₩1,509.4. Relentless foreign equity outflow is generating sustained dollar demand, keeping the won on the back foot even as the DXY Dollar Index edged lower to 99.097.

What to Watch

Nvidia ($NVDA) reports Q1 results on May 20 after the bell. A strong data-center guidance print would be the clearest catalyst to arrest the global semiconductor de-rating and could trigger a recovery in Korean chip stocks. The U.S. 10-year Treasury yield has moved above 4.6%, and any hawkish Fed commentary would compound pressure on rate-sensitive Korean equities.