Business · Markets · 1 hr ago
South Korean Stocks Fall as Chipmakers Track US Tech Selloff
South Korean stocks fell as major chipmakers lost value.
The decline came after an overnight selloff in US technology shares.
Chipmakers were a key part of the drop, though no companies were named.
Rising oil prices were another market factor during the session.
The moves link South Korea's share market with shifts in global technology stocks and oil prices.
No further market outlook or next steps were given.
South Korean stocks fell sharply on Oct. 23 as chipmakers tracked an overnight selloff in US technology shares.
The KOSPI was down 3.38% at 5,346.71 at 9:23 a.m. local time, after briefly falling 4.12% from its previous close.
The KOSDAQ was down 3.69% at 736.03 at the same time.
Samsung Electronics fell about 3.8%, while SK hynix fell about 2.8%.
Reports linked the technology selloff to renewed concerns about the profitability of artificial intelligence investment and rising oil prices.
- Who
- South Korean stock investors, with chipmakers including Samsung Electronics and SK hynix among the decliners.
- What
- South Korean stocks fell sharply, tracking losses in US technology and semiconductor shares.
- When
- Oct. 23, 2026; the Yonhap report cited market levels at 9:23 a.m. local time.
- Where
- South Korea, including the KOSPI and KOSDAQ markets.
- Why
- Renewed concerns about returns on AI investment, an overnight US technology selloff and rising oil prices weighed on investor sentiment.
This story does not have two clearly opposing sides.
US technology and semiconductor shares fell, while oil prices rose.
The KOSPI opened down 2.36% at 5,403.17 and the KOSDAQ opened down 2.07% at 748.32.
The KOSPI was down 3.38% and the KOSDAQ was down 3.69%, according to Yonhap.
- KOSPI at 9:23 a.m.
- 5,346.71, down 3.38%
- KOSDAQ at 9:23 a.m.
- 736.03, down 3.69%
- Samsung Electronics
- Down about 3.8% at 9:23 a.m.
- SK hynix
- Down about 2.8% at 9:23 a.m.
- Brent crude
- Up 4.00% to $113.17 a barrel
- Philadelphia Semiconductor Index
- Down 6.72%
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