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AI Sell-Off Hits South Korea as Market Drops 10%
A sharp AI‑stock sell‑off sent South Korea's Kospi tumbling 10% as Samsung Electronics and SK Hynix each dropped more than 12%, triggering a circuit‑breaker. The plunge rippled to global markets, pulling the Nasdaq down 2.2% and pressuring other semiconductor names. Meanwhile, SK Hynix announced a $29.4 billion ADR raise to expand AI‑chip capacity, underscoring its confidence in long‑term demand. In parallel, China’s 360 Security unveiled Yitian Tulong, an AI‑driven vulnerability platform it claims can match Anthropic’s Mythos, highlighting a new frontier in AI‑powered cyber defense.
South Korean Shares Post Worst Week Since March on US Tech Selloff
South Korean KOSPI plunged 5.81% on Friday, marking a 7.1% weekly decline—the steepest slide since March’s Iran‑war shock. The drop was amplified by Samsung Electronics (-5.3%) and SK Hynix (-8.4%), which together comprise more than half of the index. A...
Taiex Posts 3rd Steepest Point Drop Ever as Tech Stocks Hammered
Taiwan's Taiex index slumped 1,683.5 points, or 3.64%, to 44,571.76 on June 26, marking the market’s third‑steepest point drop in history. The decline was driven by a 3.91% fall in the electronics sector, with TSMC losing 2.09% and contributing roughly 400...
Asian Stocks Slide on Tech Selloff, Oil Slips: Markets Wrap
Asian equity markets retreated on June 25, with the regional index down 1.7% as heavyweight semiconductor stocks surrendered gains from the prior rally. South Korea’s tech‑laden Kospi fell more than 3%, while Nasdaq 100 futures slipped 0.6% and S&P 500 futures eased 0.2%....
Nikkei Ends 4% Lower as SoftBank Tanks on OpenAI IPO Delay Report
Japan’s Nikkei index closed 4.15% lower at 69,360.88 on Friday, wiping out the previous session’s record‑high gains. The drop was driven by a 12.5% plunge in SoftBank Group shares after a New York Times report that OpenAI may postpone its IPO until...
The Tech Selloff Has a New Worry, and It Involves OpenAI’s IPO Timeline
The New York Times reported that OpenAI may postpone its initial public offering until 2027, prompting a sharp sell‑off in SoftBank shares, which fell about 13% after the news. SoftBank, which holds a 13% stake in the AI firm, saw its stock...