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South Korea's KOSPI Falls 8.77% Last Week, Valuation Hits Historic Low Below 2008 Financial Crisis Level

2026-07-19 06:43:42

SK Hynix-11.52%

According to Yonhapnews, South Korea's KOSPI index fell 8.77% last week, breaking below 7,000 points as its 12-month forward price-to-earnings ratio plummeted to 5.78x, the lowest since 2004 and below the 6.27x low during the 2008 financial crisis. The Kosdaq declined 5.44% over the same period. Analysts attribute the sharp decline to combined weakness in South Korean and U.S. semiconductor stocks alongside forced liquidations of leveraged investments. Market participants expect Q2 earnings announcements, particularly SK Hynix's results on July 24, to provide a turning point for recovery, with 24 sectors trading below fair value based on earnings multiples.

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