South Korean equities fell sharply as global funds continued reducing exposure to the market after its strong rally. The KOSPI dropped about 5% after briefly nearing the 8,000 level, with foreign investors extending heavy selling, particularly in technology stocks. The Kospi tech sub-index saw over $2.5 billion in net outflows, while Samsung Electronics Co. and SK Hynix Inc. each fell at least 5% despite having more than doubled year to date, driving the index’s decline.