AI investment fears spark panic selling in Samsung, SK hynix
Fears that the artificial intelligence (AI) investment cycle may be nearing its peak triggered a wave of panic selling in semiconductor stocks, Friday, sending shares of Korea’s two chipmaking giants, Samsung Electronics and SK hynix, plunging nearly 10 percent. As of 9:30 a.m., SK hynix had tumbled 11.71 percent, while Samsung Electronics had fallen 9.98 percent. The benchmark KOSPI opened 2.24…
The KOSPI index experienced a sharp decline in early trading on Friday, surpassing an 8 percent drop and prompting a circuit breaker to be activated. This sudden sell-off was attributed to concerns over the potential end of the artificial intelligence (AI) investment cycle, which led to panic selling among semiconductor stocks. As of 9:30 a.m., SK hynix's shares plummeted by 11.71 percent, while Samsung Electronics saw a 9.98 percent decline.
The benchmark KOSPI opened 2.24 percent lower at 5,263.26, triggering the circuit breaker just three minutes after the market opened. The index subsequently dropped more than 8 percent, briefly falling below the 5,000 mark for the first time in over 10 months since January.
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- AI investment fears spark panic selling in Samsung, SK hynix koreatimes.co.kr
