KOSPI Falls Below 7000 but NH Investment Securities Eyes 6000 as Support on July 20

According to NH Investment Securities, South Korea's KOSPI index fell below the psychological level of 7000 on July 20, but analysts view the 6000 level as a hard floor. Kim Byung-yeon, executive director of investment strategy at NH Investment Securities, stated that even if further spike declines occur, the market could rebound within two to three days from current levels. The VKOSPI volatility index surged to 96.9, exceeding the 89.3 level seen during the 2008 financial crisis, driven by concerns about semiconductor peak-out, multiple negative catalysts, and demand disruptions. NK Investment Securities set the 6000 KOSPI level as rock bottom based on a price-to-book ratio of 1.3 to 1.4 times, the post-2025 average.
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