20.07.202601:43:00UTC+00South Korean Shares Hit More Than 2-Month Low

The benchmark KOSPI dropped more than 3% to around 6,605 on Monday, extending losses to its lowest level since late April, as persistent weakness in global semiconductor stocks weighed on risk appetite. The decline tracked another losing week on Wall Street, where chipmakers remained under pressure amid ongoing concerns about AI-related capital spending and stretched valuations, casting a shadow over broader equity markets.

Heightened geopolitical risks in the Middle East further undermined sentiment, with continued US military strikes against Iran stoking fears of potential disruptions to energy supplies and driving oil prices higher. Heavy losses were recorded in major index constituents, including Samsung Electronics (-1.6%), Hyundai Motor (-4.4%), KB Financial Group (-3.9%), and Kia Corporation (-5.1%).

In corporate news, Samsung Biologics announced an agreement to acquire Switzerland-based PolyPeptide Group in an all-cash transaction valued at $1.8 billion. The deal, the largest acquisition to date in South Korea’s biopharmaceutical sector, is set to strengthen Samsung Biologics’ global contract development and manufacturing organization (CDMO) footprint and significantly enhance its peptide manufacturing capabilities.