Key Takeaways
- • South Korea's benchmark Kospi index fell more than 7% in early trading, losing 7.1% to 5,584.83, as a sell-off of technology shares deepened, according to The Associated Press.
- • Samsung Electronics slid 8.2% and memory chipmaker SK Hynix plunged 10.8% during the session, leading losses in the index.
- • The decline followed a sharp sell-off in AI-related stocks on Wall Street on Wednesday, with the Kospi down 7.6% at one point and Japan's Nikkei 225 down 4.9%, per AP reporting.
- • The Kospi has fallen more than 16% over the past month and remains well below the 9,000 level, according to AP market coverage.
Summary
South Korea's benchmark Kospi index dropped more than 7% as a sell-off in technology shares deepened, according to The Associated Press. In early trading the index lost 7.1% to 5,584.83, with later reports citing declines of up to 7.6%. Samsung Electronics fell 8.2% and SK Hynix, a South Korean memory chipmaker, plunged 10.8%, reflecting heavy selling in semiconductor names.
The pressure followed a sharp sell-off in artificial intelligence stocks that began on Wall Street on Wednesday and spread across Asian markets. AP reported that the tumble in U.S. technology shares was tied to hotter-than-expected data that weighed on U.S. equities, and that the Kospi's decline came after those losses. Japan's Nikkei 225 also fell 4.9%, according to AP.
According to AP market coverage, the Kospi has lost more than 16% over the past month and is well below the 9,000 mark. Semiconductor shares have been central to the sell-off, with concerns over AI-driven demand cited as a driver. Later coverage noted that Wall Street steadied after the initial drops, though the regional selloff had already deepened.
The move underscores the concentration risk in Korean equities, where memory chipmakers carry significant index weight, and highlights the transmission of U.S. AI-sector volatility to Asian technology supply chains.
The pressure followed a sharp sell-off in artificial intelligence stocks that began on Wall Street on Wednesday and spread across Asian markets. AP reported that the tumble in U.S. technology shares was tied to hotter-than-expected data that weighed on U.S. equities, and that the Kospi's decline came after those losses. Japan's Nikkei 225 also fell 4.9%, according to AP.
According to AP market coverage, the Kospi has lost more than 16% over the past month and is well below the 9,000 mark. Semiconductor shares have been central to the sell-off, with concerns over AI-driven demand cited as a driver. Later coverage noted that Wall Street steadied after the initial drops, though the regional selloff had already deepened.
The move underscores the concentration risk in Korean equities, where memory chipmakers carry significant index weight, and highlights the transmission of U.S. AI-sector volatility to Asian technology supply chains.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.