Analysis: Chipmakers hit by another sell-off, South Korean stock market plunges 8%

CoinFeed June 26 news, according to Jinshi reports, South Korean stock market fell sharply, chip stocks were sold off again, highlighting their high sensitivity to fluctuations in global AI investment sentiment. The KOSPI index fell more than 8% intraday on Friday, erasing all gains from the previous trading day and triggering the market circuit breaker. Samsung Electronics and SK Hynix shares both fell about 9%. Foreign investors sold 2.5 trillion won (about $1.6 billion) of KOSPI stocks in early trading. This sharp decline marked a rapid reversal from Thursday's surge, when Micron Technology's optimistic earnings outlook and SK Hynix's plan to list in the US boosted optimism about the sustainability of the AI investment boom. However, as investors digested news that Apple raised prices due to memory chip shortages and that OpenAI might delay its listing until next year, market sentiment quickly deteriorated.