23.10.202601:44:03UTC+00South Korean Shares Extend Slide

The benchmark KOSPI fell nearly 2% to around 5,430 on Friday, extending its decline after registering its lowest close since April, as a global selloff in AI and semiconductor shares pressured Korean chipmakers. The Nasdaq dropped 2.6% overnight, with Micron and Nvidia among the major losers, dragging Samsung Electronics down almost 3% and SK hynix down about 1%.

Losses broadened to other heavyweight names, including Hyundai Motor (-3.3%), KB Financial Group (-3.4%), Hanwha Aerospace (-5.3%), Doosan Enerbility (-4.4%), HD Hyundai Heavy Industries (-4.4%), and Kia Corporation (-2.5%).

At the same time, Brent crude jumped to multi-month highs near $113 per barrel amid escalating tensions in the Middle East, stoking worries about higher energy costs and renewed inflationary pressures. SK hynix also shelved plans for a US listing of its Solidigm subsidiary, citing market conditions and a focus on shareholder value.