South Korean Stocks Plunge on June 23; SK Hynix Surpassing Samsung Seen as Market Peak Signal

According to Critini Research analyst Jukan, South Korean stocks plunged on June 23, with several key factors identified. SK Hynix's market capitalization surpassing Samsung Electronics was interpreted as a market peak signal, despite Samsung's larger revenue scale. Profit-taking ahead of Micron's earnings release was also cited as a driver of selling pressure. Additional pressures include elevated leverage in the Korean market and discussions among lawmakers regarding taxation of unrealized stock gains.
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