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Updated · Bloomberg · Jul 14Kospi Tumbles 5.3% to April Low as Chipmaker Selloff Deepens
3 articles · Updated · Bloomberg · Jul 14Summary
- South Korea’s Kospi fell as much as 5.3% to its lowest level since April, pushing its drop from a June intraday high to more than 30%.
- SK Hynix slid another 5% after a record 15% plunge a day earlier, as investors questioned whether the AI-driven global equity rally had run too far.
- The chip-led selloff spread across Asia, with Kioxia down 3% and Taiwan Semiconductor Manufacturing losing 1.6%.
- Oil also extended gains as the US-Iran standoff intensified, adding to broader market pressure across the region.
Insights
Can AI’s super-cycle defy history, or is the Korean market’s 30% plunge the start of a tech bubble bursting? Is the AI hardware boom a true revolution, or a speculative bubble inflated by circular financing and hype?