[24.06.08 Emergency Live Full View] A market that doesn't get scared, exchange rate also highest in 17 years and 3 months… With accumulated bad news, is the 1,600 won era just a matter of time? [3PROTV Market Diagnosis]

Summary

Korean equity markets experienced a sharp selloff on June 8, 2025 (Black Monday), with KOSPI and KOSDAQ both triggering circuit breakers. The decline was driven by strong US employment data raising fears of Fed rate hikes, geopolitical tensions in the Middle East, and profit-taking in AI semiconductor stocks ahead of the SpaceX IPO. Multiple experts advised against panic selling and recommended buying semiconductor leaders at depressed valuations.

• KOSPI fell over 8%, KOSDAQ over 9%, both triggering circuit breakers.
• The selloff was triggered by much stronger-than-expected US nonfarm payrolls, increasing rate hike probability.
• Geopolitical risks from Iran-Israel conflict and Houthi threats in Red Sea added to oil price uncertainty.
• Profit-taking in AI hardware was linked to rotation into SpaceX IPO and Meta/Google equity offerings.
• Kim Jang-yeol provided specific fair-value entry points for Micron ($781 stop-loss), Samsung Electronics (29.8M won), and SK hynix (190M won).
• Analysts emphasized that semiconductor fundamentals remain intact despite the macro shock.
• The week ahead includes US CPI, options expiry, BOJ decision, and FOMC meeting, keeping volatility high.
• Longer-term outlook remains constructive for AI-driven semiconductor demand, but near-term caution is advised.