Kospi Closes Down 5.8% as Asian Tech Rout Hits AI Chip Stocks
Updated
Updated · Business Insider · Jun 26
Kospi Closes Down 5.8% as Asian Tech Rout Hits AI Chip Stocks
3 articles · Updated · Business Insider · Jun 26
Summary
South Korea's Kospi finished 5.8% lower on Friday after falling more than 8% intraday and triggering its second circuit breaker of the week, with Samsung Electronics down 5.3% and SK Hynix off 8.4%.
Apple's price increases for Macs and iPads, blamed on an unprecedented memory-chip shortage tied to AI data-center demand, pushed investors to question whether chipmakers can sustain margins if consumers resist higher prices.
Japan's Nikkei 225 dropped 4.2% as SoftBank sank 13% after a report that OpenAI could delay its IPO until next year; Taiwan's Taiex lost 3.6%, Hong Kong's Hang Seng fell more than 2%, and Alibaba slid another 6%.
The selloff reversed Thursday's Micron-led relief rally and underscored how this year's AI-driven gains in South Korea, Japan and Taiwan have left those markets vulnerable to sharp swings.