The slump follows a broader retreat in US tech where the semiconductor benchmark index fell approximately 16% over eight straight trading sessions. Jian Shi Cortesi, a fund manager at GAM Investment Management, stated that rising borrowing costs and higher oil prices could make infrastructure projects harder to fund and prompt a valuation reset for Asian equipment suppliers.
Tuesday, October 20, 2026
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South Korean Stocks Break July Lows Over DeepSeek Chip Fears
Global Markets2 days ago
Memory chip demand concerns triggered a new wave of selling in South Korea on Monday, driving stock indices below the low points established in July. This latest downturn follows the release of a new AI model from DeepSeek, which investors fear could reduce the need for specialized memory hardware, adding pressure to a market already anxious about the financing of artificial intelligence infrastructure.
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