Business · Markets · 2 hrs ago
South Korea’s Kospi falls 7.4% as chip shares sell off
South Korea’s Kospi stock index fell 7.4% on Tuesday, its lowest level since late July.
Shares in Samsung Electronics and SK Hynix, two of the world’s biggest memory chipmakers, dropped sharply.
Investors are uneasy about the outlook for the AI boom that helped drive the Kospi to a record high in June.
Reports that China’s CXMT is making advances have raised concern that it could challenge Samsung, SK Hynix and U.S. chipmaker Micron.
Chip shares also fell in other Asian markets, including Japan and Taiwan.
The sell-off matters because chipmakers have been a major part of the recent market rise, and doubts about their prospects can weigh on stock indexes.
Investors are also watching earnings announcements from major companies this week, including large U.S. banks.
South Korea’s Kospi fell 7.4% to 5,914.35 on Tuesday as chip shares sold off.
Samsung Electronics dropped 7.7%, while SK Hynix plunged 8.8%.
Reports of advances by China’s memory chipmaker CXMT raised concerns about competition for major chipmakers.
Asian shares mostly declined after U.S. stocks ended mixed.
- Who
- South Korean stock investors and major chip companies, including Samsung Electronics and SK Hynix.
- What
- The Kospi fell 7.4% as chip shares sold off.
- When
- Tuesday; the article was published on October 13, 2026.
- Where
- South Korea.
- Why
- Reports that advances by China’s CXMT could challenge major memory chipmakers, alongside unease about the AI boom, weighed on shares.
This story does not have two clearly opposing sides.
The Kospi reached an all-time high after crossing 9,000.
Wall Street’s S&P 500 edged down 0.1%, while the Dow rose 0.4% and the Nasdaq fell 0.4%.
The Kospi fell 7.4% to 5,914.35 as Samsung Electronics and SK Hynix shares dropped.
- Kospi change
- Down 7.4%
- Kospi level
- 5,914.35
- Samsung Electronics
- Down 7.7%
- SK Hynix
- Down 8.8%
- CXMT
- Chinese memory chipmaker cited as a potential challenge to Samsung Electronics, SK Hynix and Micron Technology
What people are saying
The market is more concerned over recent developments in the Middle East, with Houthi attacks on Saudi Arabia and the lingering risks to oil flows from the Persian Gulf
Sources
Related news
Hyundai Green Food adds care support for employees’ older relatives
APR shares slide on forecast for weaker-than-expected third-quarter profit
Shoe retailer Shoemarker joins Baemin’s shopping service
Samsung Electro-Mechanics executive receives Industry Medal for MLCC work
South Korea’s consumer goods exports rose 4.2-fold in a decade
Korea Railroad Corp. recorded 875 disciplinary cases in 30 months
Chip stocks slide as investors question scale of AI investment
South Korea’s Kospi falls below 6,000 after five-day slide
South Korea’s KOSPI falls more than 6% below 6,000 in trading
Hyundai unveils Tucson N Line design at 2026 Paris Motor Show
South Korean and Japanese firms plan 1 trillion won content fund
