South Korea’s won reached its strongest level against the dollar in over ten months, breaking below the 1,400 mark after gaining 10.8% since early July, driven by surging exports. Semiconductor shipments jumped 179% to $41 billion in July, bringing total goods exports to $98.89 billion, up 63% year-on-year. SK Hynix raised $26.5 billion through a US depositary receipt listing. Meanwhile, the stock market is struggling: the KOSPI fell 22% in July, its steepest monthly decline since the global financial crisis, with Samsung and SK Hynix dropping 7.64% and 9.09% respectively, together accounting for roughly half of the index’s weight.
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