Kospi Plunges Over 8% as Wall Street's AI Selloff Hits Seoul Chipmakers
South Korea's Kospi dropped over 8% early Friday as Samsung Electronics and SK Hynix slumped, halting trade, per Dow Jones Newswires.
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what happened
South Korean stocks fell sharply early Friday, with the benchmark Kospi losing more than 8% as chipmakers sold off over concerns about artificial intelligence. The move followed the Democratic sweep in the U.S. midterm elections and mirrored a steep overnight decline in American technology shares.
The Korea Exchange suspended trading on the main board for 20 minutes to curb volatility, and the Kosdaq tech market halted for five minutes. SK Hynix slid as much as 14% to 1,089,000 won, while Samsung Electronics dropped up to 11% to 179,200 won. According to Dow Jones Newswires, the two companies together make up nearly half of the Kospi's total market capitalization.
why it matters
Samsung Electronics and SK Hynix are the world's two largest memory-chip makers and suppliers of high bandwidth memory to Nvidia, so their moves shape the whole semiconductor sector. The Nasdaq's largest one-day drop in more than a year on Thursday shows how closely Asian investors are tracking U.S. sentiment on AI-linked stocks.
market impact
Korean equities: chipmaker selloff weighs on the Kospi and on the broader AI trade
- Kospi pressure down — chipmaker losses drag the index lower, and trading was halted during the decline
- SK Hynix pressure down — AI demand worries drove shares down more than 14%
- Samsung Electronics pressure down — an 11% drop alongside the memory sector selloff
instruments
on polymarket
sources
- Korea's Kospi Slumps as Wall Street's AI Selloff Spills Over — Dow Jones Newswires, 6 November 2026 at 01:32 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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