South Korean Stock Market Crash

South Korean Stock Market Crash

South Korean Stocks Lead Asia Lower

South Korea’s KOSPI Composite Index tumbled more than 10% on Wednesday, extending the previous session’s nearly 11% slump and falling to its lowest level since early April as the selloff in semiconductor stocks intensified amid mounting concerns over artificial intelligence spending and elevated valuations.

Among individual companies, SK Hynix plunged more than 10% after the chipmaker reported another record quarterly profit but missed analyst expectations. Technology-heavy benchmark indexes in Japan and China also traded lower, while markets in Australia and Hong Kong outperformed the broader regional trend.

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