KOSPI Crashes 8% as AI Chip Selloff Slams Asian Markets

The KOSPI plunged 8.10% to 6,208.34 on Tuesday morning, deepening a global semiconductor rout.  SK Hynix sank 11.01%, and Samsung Electronics dropped 9.45%, a day before the memory giant reports quarterly earnings.

Follow us on X to get the latest news as it happens KOSPI Index Performance. Source: Google Finance Chip Selloff Spreads From Wall Street to Seoul The Korea Exchange triggered a sell-side sidecar after the open, its 22nd this year.

A similar mechanism tripped on the Kosdaq shortly afterward. The index was down 6.6% at press time. Japan followed Seoul lower. Kioxia cratered 16.5%, Tokyo Electron dropped over 9%, and Advantest slid 8%.  SoftBank Group, an AI proxy through its Arm stake, fell nearly 5%.

Overall, the Nikkei 225 lost 3.90%, while the Topix shed 2.49%. The rout extends Monday’s weakness in US chip stocks, where the VanEck Semiconductor ETF lost over 2%, according to CNBC.