South Korean stocks fall
According to Jin10, Japanese and South Korean stocks opened lower amid a continued global sell-off in chip stocks, as investors grew more cautious about the sustainability of the AI investment boom and the earnings outlook for companies tied to it. The Nikkei 225 fell more than 3% during the session, while Kioxia shares dropped more than 8%. South Korea’s KOSPI fell for a seventh consecutive session, at one point dropping 6% to its lowest level since July 31. Major semiconductor companies had the biggest impact on the decline, with Samsung Electronics shares falling more than 7% and SK Hynix shares dropping more than 8%. Later, the Korea Exchange activated the “sidecar” mechanism in the KOSPI market, suspending automated sell orders.
$BTC
According to Jin10, Japanese and South Korean stocks opened lower amid a continued global sell-off in chip stocks, as investors grew more cautious about the sustainability of the AI investment boom and the earnings outlook for companies tied to it. The Nikkei 225 fell more than 3% during the session, while Kioxia shares dropped more than 8%. South Korea’s KOSPI fell for a seventh consecutive session, at one point dropping 6% to its lowest level since July 31. Major semiconductor companies had the biggest impact on the decline, with Samsung Electronics shares falling more than 7% and SK Hynix shares dropping more than 8%. Later, the Korea Exchange activated the “sidecar” mechanism in the KOSPI market, suspending automated sell orders.
$BTC