South Korea’s Kospi index sinks more than 9% on heavy selling of chipmaking stocks


HONG KONG (AP) — South Korea’s Kospi index plunged more than 9% Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability of the boom in artificial intelligence.

The Kospi dropped 9.5% to its lowest level since April as chipmakers Samsung Electronics and SK Hynix dropped sharply.

The Associated Press

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, July 28, 2026. (AP Photo/Ahn Young-joon) – The Associated Press



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