Seoul stocks plunge at open as chip selloff drags tech, despite easing Middle East tensions
AI Market Summary
Korea's KOSPI opened down 6.41%, triggering a 20-minute sell-side circuit breaker as U.S. semiconductor weakness spilled into Seoul tech. Heavy losses in Samsung Electronics and SK Hynix drove broad risk-off across related sectors such as autos and batteries. While eased Middle East tensions were noted, they did little to offset persistent concern over the durability of AI-driven capex, pressuring equity sentiment.
Impact level
● High
Affected assets
NCSIKOSPI2USD/USDT-11.89%
AI Insight · NCSIKOSPI2USD/USDTAI Insight
▼ Bearish
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Seoul's benchmark KOSPI tumbled 6.41% in early Tuesday trading to 6,322.80, triggering the exchange's 20-minute sell-side circuit breaker. The sharp drop followed an overnight 2.2% slide in the U.S. semiconductor index (ONUS), sparking heavy selling in local tech names. Samsung Electronics sank 7.68%, while SK Hynix slid 9.36%. Losses also spread to related sectors, including Hyundai Motor and LG Energy Solution. Although easing tensions in the Middle East were noted, they did little to calm worries over the sustainability of AI-related capital spending.
