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 10:30 a.m., SK hynix had tumbled 10.28 percent, while Samsung Electronics had fallen 7.99 percent. The benchmark KOSPI opened 2.24…
The South Korean stock market, the KOSPI, experienced a dramatic downturn on Friday morning, with an early trading session resulting in a circuit breaker. This alarming event was triggered by fears that the AI investment cycle might be reaching its peak. Consequently, shares of South Korea's leading semiconductor manufacturers, Samsung Electronics and SK hynix, plunged nearly 10 percent each.
By 10:30 a.m., SK hynix had plummeted 10.28 percent, while Samsung Electronics suffered a 7.99 percent decline. The KOSPI index, which opened 2.24 percent lower at 5,263.26, faced significant volatility just three minutes after the market's opening. In response to the extreme market turbulence, a circuit breaker was activated, suspending trading for 20 minutes to prevent further chaos.
This unprecedented situation marked the KOSPI's lowest point in 10 months, having dipped below the 5,000 mark for the first time since January.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- AI investment fears spark panic selling in Samsung, SK hynix koreatimes.co.kr
