According to Yonhap, South Korea's stock markets suffered their sharpest monthly declines since the 2008 global financial crisis in July, with seven out of 10 listed stocks falling and the KOSPI and KOSDAQ both losing more than 20%. A total of 1,859 stocks closed below end-June levels, accounting for about 70% of the 2,645 companies listed on the KOSPI and KOSDAQ, according to Korea Exchange data. By market, 566 of the KOSPI's 917 listings and 1,293 of the KOSDAQ's 1,728 listings declined. The KOSPI fell 22.2% from a month earlier and the KOSDAQ dropped 21.4%, marking the steepest monthly declines since October 2008. Among KOSDAQ-listed firms, Kolon TissueGene was the biggest loser, plunging 86% to 13,000 won ($8.99) from 93,600 won, followed by The Technology, down 76%, and Kolon Life Science, down 67%. On the KOSPI, Contentree JoongAng tumbled 67% after its parent, JoongAng Group, came under pressure from a liquidity crunch. Analyst Han Ji-young of Kiwoom Securities said the KOSPI remained oversold amid heavy selling and that investor sentiment is likely to improve on the back of strong earnings from Samsung Electronics and SK hynix.