00:02you're listening to ai prism from seoul economic daily three numbers before the open
00:08the cost be closed at 6806 down 8.95 percent 546 trillion won about 365 billion dollars
00:20wiped out in a single session the index broke back below 7 000 for the first time in two months
00:27now more than 20 percent under last month's peak of 9 114 foreign and institutional investors sold a
00:36combined 3.9 trillion won roughly 2.6 billion dollars here's what's driving it it's tuesday july
00:4514th here's what today's story could mean for the korean market the sell-off traces to renewed fears
00:51that the semiconductor cycle has peaked sk hynix's u.s depositary receipt listing wrapped up removing a
00:58catalyst that had powered the rally single stock leverage products amplified the swings tripping
01:04five circuit breakers since may here's what the numbers show sk hynix plunged 15.37 percent and
01:13samsung electronics fell ten point seven zero percent with sk hynix logging its steepest single
01:19day drop on record foreign investors dumped 1.7 trillion won about 1.1 billion dollars while
01:27institutions sold 2.2 trillion won near 1.5 billion dollars korea's four largest chip names shed
01:351.522 trillion won roughly 1 trillion dollars in just three weeks the cosby now sits more than 20
01:45percent below its june 22nd peak of 9 114.55 the fifth such drawdown in two decades korea investment
01:55and securities cut its sk hynix second quarter operating profit estimate to about eight percent below the
02:02market consensus the eight point nine five percent drop stood out globally against a one point nine
02:08two percent dip in the nikai and gains in hong kong and taiwan so what does this mean for active
02:16traders
02:17earlier we flagged 3.9 trillion won in combined selling that flow points to a positioning unwind not
02:24a collapse in chip demand analysts read the drop as profit taking after a sharp run-up tied to leverage
02:31liquidation and the spent adr catalyst the next signal comes late july when samsung and sk hynix report
02:40earnings and alphabet meta microsoft and amazon flag ai capex plans starting the 22nd that's today's ai
02:50prism stock investors this episode was produced with ai assistance based on sole economic daily reporting
02:57and reviewed by a human editor ai prism is a juan ifra award-winning series we'll be back tomorrow
03:05you've been listening to ai prism from sole economic daily
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