South Korean stock market plunge sparks JOMO sentiment among investors

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Market sentiment in South Korea turned sharply negative as the KOSPI index dropped more than 12% on July 29, 2026. Investor sentiment shifted from FOMO to JOMO amid steep losses in SK Hynix and Samsung Electronics. SK Hynix fell 17%, its largest single-day decline, while Samsung dropped over 13%. The sell-off followed weak U.S. semiconductor performance, CXMT’s listing, and disappointing earnings from SK Hynix. Margin and financing balances also declined, indicating leveraged funds are retreating.

BlockBeats news, on July 29, according to Korean media reports, South Korea's stock market has recently experienced a significant correction, causing investor sentiment to shift from prior fear of missing out (FOMO) to the joy of missing out (JOMO).


South Korea’s KOSPI index fell more than 12% intraday, with SK Hynix dropping over 17% to record its largest single-day decline, and Samsung Electronics falling more than 13%, impacted by weakness in U.S. semiconductor stocks, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix’s earnings miss.


Meanwhile, liquidity in the South Korean stock market continues to cool. As of July 24, investor margin balances had decreased by approximately KRW 31 trillion from their June peak, while margin trading balances had dropped by about KRW 6 trillion from their high, reflecting ongoing withdrawal of leveraged funds from the market.

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