Nasdaq Sell-Off Batters Asian Chip Stocks as SK Hynix, Samsung, Softbank Tumble
Panic selling over AI spending fears sent Samsung Electronics and SK Hynix down nearly 10% as the benchmark briefly triggered a circuit breaker.
4 Articles
4 Articles
AI investment fears spark panic selling in Samsung, SK hynix
Fears that the artificial intelligence (AI) investment cycle may be nearing its peak triggered a wave of panic selling in semiconductor stocks, Friday, sending shares of Korea’s two chipmaking giants, Samsung Electronics and SK hynix, plunging nearly 10 percent. As of 9:30 a.m., SK hynix had tumbled 11.71 percent, while Samsung Electronics had fallen 9.98 percent. The benchmark KOSPI opened 2.24 percent lower at 5,263.26 before triggering a circ…
On the 6th, a circuit breaker was triggered, temporarily suspending all trading, as the KOSPI plummeted by more than 8% immediately after the market opened. Stage 1 of the circuit breaker is activated if the KOSPI index falls by more than 8% from the previous day and this situation persists for one minute. When Stage 1 is triggered, spot trading on the securities market and stock-related futures and options trading are temporarily suspended for…
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