Samsung Electronics reported a 1,813.8% year-over-year surge in operating profit for Q2, reaching approximately $62 billion, a historic record for the third consecutive quarter. Despite this performance, the Kospi index closed down 1.23% at 5,593.56 points, marking its third consecutive session of decline. Since Wednesday, the index has lost nearly 40% of its value from its June peak, with circuit breakers triggered twice in consecutive sessions for the first time in its history. Around 1.2 million leveraged accounts received margin calls, triggering automatic sell-offs in a cascading effect. The extreme concentration of the index on Samsung and SK Hynix, combined with concerns over AI production overcapacity and Chinese competition, continues to weigh on the broader South Korean market.
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