Asian equities sold off again on August 6, according to Liberty Times (自由時報): South Korea's KOSPI opened down 1.81% and later retested a low of 6,379.35, off 3.31%, while Japan's Nikkei 225 broke below the 66,000 level, falling as much as 1.64% to 65,208. The declines followed a mixed Wall Street close on August 5, when the Philadelphia Semiconductor Index (SOX) dropped 1.4%. According to Anue (鉅亨網), a similar episode occurred on June 14, when Trump's move to resume an Iran blockade drove oil prices up nearly 10% and briefly sent KOSPI down close to 3% and the Nikkei down more than 1,000 points before both indexes rebounded.
Wall Street's Mixed Wednesday Sets the Backdrop
According to Liberty Times (自由時報), U.S. equities closed mixed on Wednesday, August 5, 2026, ahead of the Asian trading session. The Dow Jones Industrial Average rose 263.24 points, or 0.49%, marking its fifth straight session of gains and a fresh record high. The S&P 500 slipped 0.17%, the Nasdaq fell 0.83%, and the Philadelphia Semiconductor Index (SOX) dropped 1.4%. That semiconductor-specific weakness on Wall Street preceded the tech-heavy declines that followed in Seoul and Tokyo the next morning.
| U.S. Index (Aug 5 close) | Change |
|---|
| Dow Jones Industrial Average | +263.24 pts (+0.49%) |
| S&P 500 | -0.17% |
| Nasdaq | -0.83% |
| Philadelphia Semiconductor Index (SOX) | -1.4% |
KOSPI: Opening Losses, Tech-Stock Declines, and a Familiar Rebound Pattern
On the morning of August 6, South Korea's KOSPI opened down 119.52 points, or 1.81%, at 6,478.75, according to Liberty Times. The index then extended losses as SK Hynix opened down more than 5% and Samsung Electronics fell more than 2%, dragging KOSPI to a retest low of 6,379.35, down 218.92 points or 3.31%.
The pattern echoes an earlier episode on June 14, reported by Anue (鉅亨網): KOSPI opened below 6,800 that day, with SK Hynix down more than 3% and Samsung Electronics down more than 1% intraday. Low-bargain buying then pushed the index to a rebound of 1.57%, reclaiming the 6,900 level, as losses in the two memory-chip makers narrowed.
Nikkei 225 Breaks Below 66,000
Japan's Nikkei 225 opened down 404 points, or 0.6%, at 65,896 on August 6 — directly breaching the 66,000 level, according to Liberty Times. Declines in electronics names including Nitto Boseki, Mitsui Mining & Smelting, Kioxia, and Murata pushed the index lower still, to a retest low of 65,208, down 1,092 points or 1.64%.
This also mirrors the June 14 session covered by Anue: the Nikkei 225 opened lower and fell to an intraday low of 66,287.24, a decline of about 1.4%, before the drop narrowed sharply and the index turned positive, rising 0.26% to reclaim the 67,000 level.
| Market Session | Open/Low | Change |
|---|
| KOSPI open (Aug 6) | 6,478.75 | -119.52 pts (-1.81%) |
| KOSPI retest low (Aug 6) | 6,379.35 | -218.92 pts (-3.31%) |
| KOSPI intraday low (Jun 14) | below 6,800 | ~-3% |
| KOSPI rebound (Jun 14) | above 6,900 | +1.57% |
| Nikkei 225 open (Aug 6) | 65,896 | -404 pts (-0.6%) |
| Nikkei 225 retest low (Aug 6) | 65,208 | -1,092 pts (-1.64%) |
| Nikkei 225 intraday low (Jun 14) | 66,287.24 | ~-1.4% |
| Nikkei 225 rebound (Jun 14) | above 67,000 | +0.26% |
The Iran Flashpoint That First Rattled Markets in June
The June 14 episode traced back to a specific geopolitical trigger, according to Anue: U.S. President Donald Trump announced the resumption of a blockade action against Iran, reigniting tension around the Strait of Hormuz and sending international oil prices up as much as nearly 10%. In the same session, KOSPI briefly plunged close to 3%, breaking below 6,800, and the Nikkei 225 briefly fell more than 1,000 points — before buying on the dip pulled both indexes' losses back sharply.
SK Hynix ADR Drags Down the Philadelphia Semiconductor Index
The June 14 selloff also had a direct U.S.-market transmission channel, per Anue: a sharp decline in SK Hynix's American Depositary Receipt (ADR) led losses across the semiconductor sector, dragging technology shares broadly lower and pulling the Philadelphia Semiconductor Index (SOX) to a close down nearly 5% that day — a steeper single-day drop than the 1.4% SOX decline recorded on August 5.
What This Means
The two episodes documented here — June 14 and August 5–6 — share a common shape: KOSPI and the Nikkei both opened or traded sharply lower with SK Hynix and Samsung Electronics leading declines, and both times the SOX or its ADR-linked proxy moved in tandem (down nearly 5% on June 14, down 1.4% on August 5). The key difference in the evidence is the outcome: on June 14, both Asian indexes reversed intraday, with KOSPI rebounding 1.57% to reclaim 6,900 and the Nikkei rising 0.26% to retake 67,000. The Liberty Times report on the August 6 open does not include a same-day rebound figure — as of the reported open, KOSPI had retested a 3.31% loss at 6,379.35 and the Nikkei had fallen 1.64% to 65,208, both below the June 14 rebound levels.