Kospi Slumps 6% as Chip Stocks Lead Asia Selloff
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- South Korea's Kospi Index slumped 6% ahead of Friday's market holiday, with the report describing it as "a bellwether for AI investments."
- SK Hynix Inc. and Samsung Electronics Co. led the losses as semiconductor stocks fell across the region.
- Japan's Nikkei 225 dropped 3%, deepening the retreat and dragging Asia-Pacific equities broadly lower.
- MSCI's Asia Pacific equities gauge fell 1.2% as the chip-led rout spread beyond semiconductors, with oil also declining in the same session.
Why it matters: SK Hynix and Samsung drove a 6% Kospi slide ahead of Seoul's Friday holiday close, with Japan's Nikkei off 3% and MSCI Asia Pacific down 1.2%. Oil also fell in the session, showing the chip-driven selloff is pulling broader regional assets lower alongside mounting AI valuation doubts.
