KOSPI plunges 5.35% to 7,246 for 2nd day, sidecar triggers again
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KOSPI closed down 409.52 points (5.35%) at 7,246.79 on July 8, Financial News reported. Following the previous day's circuit breaker, a sell-side sidecar triggered again at 1:31 p.m. as chip-peak concerns and Middle East risk converged. Per Money Today, Samsung Electronics fell 6.25% and SK Hynix 5.68%, with large-cap chip stocks leading the decline, while foreign investors net-bought about 331.1 billion won.
KOSDAQ also plunges 5.56% to 785, breaks 800 for first time in 10 months
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KOSDAQ closed down 46.23 points (5.56%) at 785.0 on July 8, falling below 800 for the first time in about 10 months, Hankyung reported. According to Newspim, selling spread across chip and growth stocks in KOSDAQ following KOSPI, and the index widened its intraday losses to its lowest level of the year. A plunge in large-cap chip stocks drove the simultaneous drop in both the KOSPI and KOSDAQ markets.
Won/dollar spikes to 1,555 intraday, reverses to close at 1,498
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The won/dollar rate's daytime session close was 1,498.5 on July 8, down 29.7 won from the previous session, News1 reported. According to Asia Economy, the rate jumped as high as 1,555.2 early in the session amid the stock-market plunge, but its rise reversed after verbal-intervention signals from foreign-exchange authorities, sliding below 1,500 for the first time in a month and a half. Volatile trading continued, with the day's high-low gap exceeding 50 won.
Lee-Zelensky hold first summit, formalize $100M Ukraine aid
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President Lee Jae-myung held his first in-person summit with Ukrainian President Zelensky in Ankara, Turkey, on July 8 (local time), announcing a comprehensive support plan worth $100 million, Etoday reported. According to Newspim, the two leaders agreed to resolve the issue of North Korean soldiers held in Ukraine in line with respect for free will and humanitarian principles. Lee continued discussions on defense and reconstruction cooperation alongside the Ankara NATO summit schedule.
SBS 'Kim Bujang' tops Netflix non-English, enters Top 10 in 79 countries
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SBS Friday-Saturday drama 'Kim Bujang' ranked No. 1 in Netflix's non-English show category with 10.5 million views, Star News reported. It ranked No. 1 in 11 countries including Korea, Singapore, Thailand and Taiwan, and entered the Top 10 across 79 countries. The drama earlier posted a 21.6% nationwide rating in just its fourth episode, setting the fastest-hit record for an SBS Friday-Saturday series, the outlet added.
AI agent startup Prime Intellect raises $130M Series A
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Prime Intellect, a startup providing computing and software for building AI agents, raised a $130 million Series A at a $1 billion valuation, TechCrunch reported. Radical Ventures led the round, with Nvidia Ventures, Intel Capital and Dell Technologies Capital participating. Demand for infrastructure that helps enterprises build their own AI agents drove the investment, the outlet said.
Bitcoin drops to $61,900 range, ETFs turn to inflows after 10 days
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Bitcoin traded at $61,913 on July 8, down 2.2% over 24 hours, and Ether at $1,733, down 2.3%, Investing News reported. However, US spot bitcoin ETFs snapped a 10-session streak of net outflows, drawing $221.7 million in inflows — their largest daily inflow in about two months. Even amid price weakness, institutional money turned to inflows.
As KOSPI plunged for a second straight day and triggered another sidecar, SBS 'Kim Bujang' drew attention by topping Netflix's non-English chart
KOSPI falls 5.35% for 2nd day to 7,246, sidecar triggers again▾
Per Financial News, KOSPI closed down 5.35% at 7,246.79 on July 8 for a second straight day after the previous day's circuit breaker. A sell-side sidecar triggered at 1:31 p.m. as chip-peak concerns and Middle East risk converged.
'Kim Bujang' tops Netflix non-English, Top 10 in 79 countries▾
Per Star News, SBS drama 'Kim Bujang' ranked No. 1 in Netflix's non-English show category with 10.5 million views. It topped charts in 11 countries and entered the Top 10 in 79 countries, posting a 21.6% nationwide rating in its fourth episode.
In Korea Consumer Agency testing, 4 of 6 portable air conditioners failed to reach their set temperature and were noisier than wall-mounted units
4 of 6 portable air conditioners fail to reach set temperature▾
Per Yonhap, a Korea Consumer Agency evaluation of six household portable air conditioners released July 8 found four failed to reach the 24℃ set temperature even after prolonged operation. Their average noise of 53dB(A) was about 9dB(A) higher than wall-mounted units.
Middle East tensions and surging oil sent India's Sensex down 2.15% and China's CSI300 lower, with Asian emerging markets falling together
India's Sensex plunges 1,677 points, Asian emerging markets fall together▾
Per India Infoline, India's Sensex closed down 1,677 points (2.15%) at 76,503.60 on July 8. Investor sentiment weakened amid Middle East geopolitical tensions and surging oil prices, and China's CSI300 also fell to 4,755.53.
The won/dollar rate spiked to 1,555 intraday, then reversed to 1,498 after authorities' verbal intervention, falling below 1,500 for the first time in a month and a half
Won/dollar closes at 1,498, down 29.7 won, after 1,555 intraday spike▾
Per News1, the won/dollar daytime session close was 1,498.5 on July 8, down 29.7 won from the prior session. Asia Economy said the rate rose to 1,555.2 early amid the stock plunge before reversing after verbal-intervention signals from FX authorities.
KOSPI fell 5.35% for a second day and KOSDAQ dropped 5.56% below 800, as large-cap chip selling drove both markets down together
KOSPI crashes 5.35% to 7,246, Samsung down 6.25%▾
Per Money Today, KOSPI closed down 409.52 points (5.35%) at 7,246.79 on July 8. Samsung Electronics fell 6.25% and SK Hynix 5.68%, with large-cap chip stocks leading losses, while foreign investors net-bought about 331.1 billion won.
KOSDAQ plunges 5.56% to 785, breaks 800 for first time in 10 months▾
Per Hankyung, KOSDAQ closed down 46.23 points (5.56%) at 785.0 on July 8, falling below 800 for the first time in about 10 months. Newspim said selling spread across chip and growth stocks, pushing the index to its lowest level of the year.
As group AHOF made a comeback with a third mini-album, RESCENE's remake single entered Melon's Top 10 within three hours of release
AHOF releases third mini-album 'RUN TO YOU' with 5 tracks▾
Per Herald Muse, group AHOF released its third mini-album 'RUN TO YOU' at 6 p.m. on July 8. It contains five tracks including the title track 'RUN TO YOU,' showcasing a new concept through the album.
RESCENE's 'Pretty Girl' enters Melon Top 10 within 3 hours▾
Per Sports Kyunghyang, group RESCENE's remake single 'Pretty Girl' entered Melon's Top 10 within three hours of its July 8 release. The reinterpreted track drew an immediate chart response right after release.
Samsung Electronics began mass production of its 'PM1763' enterprise SSD for Nvidia Vera Rubin, expanding its PCIe 6.0-based AI memory portfolio
Samsung mass-produces 'PM1763' enterprise SSD for Nvidia Vera Rubin▾
Per Seoul Shinmun, Samsung Electronics began mass production of its PCIe 6.0-based enterprise SSD 'PM1763' on July 8. Using 9th-gen V-NAND and a 4nm controller, it roughly doubled processing speed versus its predecessor and expands its AI memory portfolio.
AI agent infrastructure startup Prime Intellect became a unicorn, while crypto VC Paradigm closed a new $1.2 billion fund
Prime Intellect raises $130M Series A at $1B valuation▾
Per TechCrunch, Prime Intellect, a startup providing computing and software for building AI agents, raised a $130 million Series A at a $1 billion valuation. Radical Ventures led the round, with Nvidia Ventures and Intel Capital participating.
Per TechCrunch, crypto venture firm Paradigm closed a new fund worth $1.2 billion. Founder Matt Huang said it would invest in the 'technical frontier' and plans to expand its scope into robotics and AI, the outlet reported.
Bitcoin fell to the $61,900 range, but US spot bitcoin ETFs snapped a 10-session net-outflow streak and posted their largest inflow in two months
Bitcoin falls to $61,913, ETFs turn to inflows after 10 days▾
Per Investing News, bitcoin traded at $61,913 on July 8, down 2.2% over 24 hours, and Ether at $1,733, down 2.3%. US spot bitcoin ETFs snapped their net outflows after 10 days, drawing $221.7 million in inflows.
LigaChem Bio unveiled its next-generation ADC pipeline and 'LCB 2.0' expansion strategy with partners at 'Global R&D Day 2026'
LigaChem Bio unveils next-gen ADC roadmap at Global R&D Day▾
Per Newsway, LigaChem Bio held 'Global R&D Day 2026' at Conrad Seoul on July 8, presenting ADC pipeline progress with partners including IKSUDA and SOTIO. The company declared an 'LCB 2.0' strategy to expand into AI and non-oncology fields.
SBS drama 'Kim Bujang' topped Netflix's non-English category, ranking in the Top 10 across 79 countries and No. 1 in 11 countries in a global hit run
'Kim Bujang' tops Netflix non-English, 10.5M views across 79 countries▾
Per Star News, SBS Friday-Saturday drama 'Kim Bujang' ranked No. 1 in Netflix's non-English show category with 10.5 million views. It topped 11 countries and entered the Top 10 in 79, posting a 21.6% nationwide rating in its fourth episode.
Tonymoly launched 11 new color-makeup products from its BONSEP sub-brand exclusively at Daiso, expanding its low-price beauty lineup
Tonymoly BONSEP launches 11 Daiso-exclusive color products▾
Per Cosin Korea, Tonymoly on July 8 launched 11 waterproof color-makeup items — lip tints, eyebrow products and more — from its sub-brand BONSEP at Daiso and Daiso Mall at a flat 3,000 won. Fashionbiz said the launch brought BONSEP's color lineup to 40 items.
President Lee Jae-myung held his first summit with President Zelensky in Ankara and formalized a comprehensive $100 million aid plan for Ukraine
Lee-Zelensky hold first summit, formalize $100M Ukraine aid▾
Per Etoday, President Lee Jae-myung held his first in-person summit with Ukrainian President Zelensky in Ankara on July 8 (local time), announcing a $100 million comprehensive support plan. Newspim said the two leaders agreed to resolve the North Korean POW issue on humanitarian principles.
US natural gas futures rose to a one-week high, driven by falling Lower-48 output and rising demand for gas feeding LNG exports
US natural gas hits one-week high on falling output, LNG demand▾
Per TradingKey, US natural gas futures rose to about $3.28 per MMBtu on July 8, a one-week high. The move reflected Lower-48 output falling to 109.4 bcf and gas flows to LNG export facilities rising to 18.1 bcf.
Tensions rose in labor as the KCTU declared a July 15 general strike and Hyundai Motor's union moved to partial strikes from the 13th after wage talks broke down
KCTU declares July 15 general strike, demands prime-contractor bargaining▾
The Korean Confederation of Trade Unions held a press conference on July 8 declaring a general strike on July 15. It set core demands including full prime-contractor bargaining, industry-wide supra-enterprise bargaining structures, and labor rights for special-employment and platform workers.
Hyundai union's wage talks collapse, partial strikes from the 13th▾
Per Financial News, Hyundai Motor's union declared a strike on July 8 after its 15th round of talks, saying it could not accept management's package offer. The union will hold partial strikes of two hours per shift each day for three days from the 13th.
Alphabet's self-driving unit Waymo said it would expand fully driverless service to four cities including San Diego, Las Vegas, Tampa and Denver
Waymo expands driverless rides to 4 cities including San Diego▾
Per CNBC, Alphabet's self-driving subsidiary Waymo said on July 8 it would begin fully autonomous service in four cities — San Diego, Las Vegas, Tampa and Denver. It will initially run for Alphabet employees before expanding to the general public.
The KCC designated eight platforms including Naver, Kakao, Google and Meta under the fake-news law, sparking a 'privatized fact-checking' controversy
8 platforms designated under fake-news law, 'privatized fact-check' row▾
Per ZDNet Korea, the Korea Communications Commission notified eight platforms — Naver, Kakao, Google, Meta, X, TikTok and others — of their designation under the amended network law that took effect July 7. Leaving misinformation judgments to platform self-regulation raised 'privatized fact-checking' concerns.