Technology
South Korean AI Rout Drags Emerging Stocks to Three-Week Low
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South Korean AI Rout Drags Emerging Stocks to Three-Week Low Emerging equities slid to a three-week low as a selloff in global chip stocks fueled a second day of heavy losses in South Korea. Memory chip firms SK Hynix Inc. and Samsung Electronics Co. lost a combined $290 billion in value to drive a 7.9% slump in South Korea’s Kospi index as investors fretted about the possibility of a capacity glut in the sector. Taiwan Semiconductor Manufacturing Corp. dropped 1.6%.
South Korean AI Rout Drags Emerging Stocks to Three-Week Low
Emerging equities slid to a three-week low as a selloff in global chip stocks fueled a second day of heavy losses in South Korea.
Memory chip firms SK Hynix Inc. and Samsung Electronics Co. lost a combined $290 billion in value to drive a 7.9% slump in South Korea’s Kospi index as investors fretted about the possibility of a capacity glut in the sector. Taiwan Semiconductor Manufacturing Corp. dropped 1.6%. Chinese names also slid, with Yangtze Optical Fibre & Cable and Skyverse Technology Co Ltd. shedding 22% and 16% respectively.