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KOSPI Falls 7% Amid Semiconductor Losses
Asian stock indices declined sharply, with the South Korean KOSPI index dropping 7.4% to its lowest level since late July, amid a wave of sell-offs in semiconductor company stocks such as Samsung and SK Hynix. This decline came after a significant rebound in June driven by artificial intelligence, during which the stocks surpassed 9,000 points. However, the market experienced deterioration following the collapse of global and American chip companies' stocks. The Japanese Nikkei index also fell by 2.5%, with shares of companies like Tokyo Electron and SoftBank declining, reflecting reduced confidence in the technology sector.
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