Bearish
KOSPI plunges over 10% amid heavy selling of chipmaking stocks
The KOSPI index experienced a significant decline, dropping over 10% due to aggressive selling of chipmaking stocks, particularly Samsung Electronics and SK Hynix, which both fell more than 12%. This downturn reflects rising investor concerns about the sustainability of the artificial intelligence boom, especially in light of intensifying competition from Chinese startups like CXMT. CXMT's dramatic 466% surge in its Shanghai STAR exchange debut, raising at least $8.6 billion, has heightened fears of global market saturation and competition.
Key points
- KOSPI drops over 10% amid heavy selling of chipmaking stocks
- Samsung Electronics and SK Hynix shares plunge more than 12%
- CXMT's 466% surge in Shanghai debut raises competition concerns
- Oil prices decline amid easing U.S.-Iran tensions
Sources
- Asian shares slip and South Korea's Kospi index sinks 10% on heavy selling of chipmaking stocksAssociated Press · July 28, 2026
- KOSPI edges higher as AI summit spurs Korea deals while CXMT surge saps fundsCHOSUNBIZ · July 27, 2026
- Samsung, SK Hynix slide amid Nvidia financing worries, China competitionReuters · July 27, 2026
- KOSPI Closes Higher Despite 2.9 Trillion Won Foreign Selloff; China's CXMT Debut Rattles MarketSeoul Economic Daily · July 27, 2026
AI-generated from public news sources. Not financial advice.
