KOSPI Triggers Circuit Breaker 10 Consecutive Days, Drops 1.91% as Semiconductor Volatility Peaks

According to Korea Economic Daily, the KOSPI triggered circuit breaker mechanisms 10 consecutive trading days through July 24, with five sell-side and five buy-side halts alternating, causing extreme price swings. The index closed the week at 6,690.62 points, down 1.91% week-on-week. Volatility was amplified by leveraged ETFs betting on semiconductor heavyweights Samsung Electronics and SK Hynix. Sentiment shifted after Alphabet's earnings on July 23 reaffirmed expanded capital expenditure to meet growing AI demand, easing market concerns about chip cycle peak.

This week brings critical catalysts: Meta (July 30), Microsoft (July 30), and Amazon (July 31) earnings, alongside SK Hynix (July 29) and Samsung Electronics (July 30) results. The U.S. Federal Reserve's July 28-29 FOMC meeting is expected to hold rates steady. International oil prices surged past $100 per barrel as Houthi attacks on Saudi tankers in the Red Sea reignited inflation concerns and rate hike fears.