Chip-led selloff drags MSCI Emerging Markets to April low
AI Market Summary
A sharp selloff in Asian chip and broader tech shares dragged emerging-market equities to three-month lows, highlighting concentrated downside risk in semiconductor-heavy markets. South Korea's KOSPI nearly 11% drop and multiple trading halts underscore stress in risk sentiment and liquidity. Oil's pullback partially cushioned European equities and FX, limiting spillover via energy-driven inflation expectations.
Impact level
● High
Affected assets
NCSIKOSPI2USD/USDT-12.02%
AI Insight · NCSIKOSPI2USD/USDTAI Insight
▼ Bearish
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ME News reported that on July 28 (UTC+8), a sharp slide in Asian technology shares sent the key emerging-market benchmark to a three-month low. A drop in oil prices helped limit selling pressure on European stocks and currencies.
As of 4:00 p.m. Beijing time, the MSCI Emerging Markets Index was down 3.6%, marking its steepest one-day fall since late June and its lowest level since April.
In South Korea, risk aversion centered on chipmakers triggered multiple trading halts on Tuesday as weakness spread across sectors. The KOSPI Index sank nearly 11%, with Samsung Electronics and SK Hynix each tumbling more than 13%. (Jin10) (Source: ODAILY)
