South Korea’s Finance Minister flagged the country’s heavy dependence on semiconductor stocks as the benchmark Kospi entered a bear market after falling 20% from its recent record high.
Kospi plunged another 6% on Wednesday to close at around 7,247, extending its decline from the record close of 9,114.55 hit on June 22. The index has now fallen more than 20% from its peak, meeting the technical definition of a bear market.
