empty
 
 

28.07.202601:35:46UTC+00South Korean Shares Plunge on Tech Selloff

The benchmark KOSPI index slumped more than 8% to around 6,210 on Tuesday, hitting its lowest level in over three months, as a deepening global selloff in semiconductor stocks hammered heavyweight chipmakers and intensified risk aversion across the market.

SK Hynix dropped more than 10% after its US-listed shares fell below their IPO price, while Samsung Electronics slid over 9%, mirroring another sharp decline in US chip stocks amid mounting worries that hyperscalers may scale back spending on AI infrastructure.

The rout extended to other major names, including SK Square (-11.8%), Hyundai Motor (-6.8%), LG Energy Solution (-4.7%), HD Hyundai Heavy Industries (-6.3%), and Kia Corporation (-5.0%).

At the same time, renewed fears over intensifying competition from China’s memory chip industry added extra downward pressure on Korean semiconductor shares. Investor sentiment was further constrained by caution ahead of upcoming earnings reports from major US technology firms and the Federal Reserve’s policy decision later this week.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback