KOSPI crashes below 5000 AI fears batter chip stocks
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 to 1.12 million won, while Samsung Electronics had fallen 9.98 percent to 181,400…
The KOSPI index experienced a sharp decline below the 5,000 mark on Friday, driven by fears surrounding the artificial intelligence (AI) investment cycle, according to early trading data. The index initially opened 2.24 percent lower at 5,263.26 before triggering a circuit breaker after three minutes, which halted program trading for five minutes to prevent excessive volatility.
The market's turbulence was primarily attributed to panic selling in semiconductor stocks, particularly affecting Korea's two leading chipmaking companies, Samsung Electronics and SK hynix. Both firms saw their shares plunge nearly 10 percent each. By 9:30 a.m., SK hynix had dropped 11.71 percent, while Samsung Electronics fell 9.98 percent.
The benchmark KOSPI index had fallen more than 8 percent at one point during the morning trading session, marking its first drop below the 5,000 level in 10 months 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.
