The KOSPI ended Thursday down 7.6% after an intraday drop of over 9% triggered market-wide circuit breakers. This slump caps a 21% decline over seven sessions, the index's most severe fall since the March 2020 pandemic crash, wiping out $880B in market value. Selling was accelerated by a September US inflation report showing CPI at 3.7% and concerns that Chinese RAM production will surge by 2028, leading to a $3.6B exodus of foreign capital from the market. SK Hynix has now fallen for 9 consecutive sessions.
Tuesday, October 20, 2026
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South Korea President Urges Against Suicide During Worst Rout Since 2020
Global Markets5 days ago
A plunge in appetite for artificial intelligence infrastructure investments has sent shockwaves through South Korea's equity markets, extending losses far beyond the semiconductor sector. The rout reached a level that prompted the nation's president to urge citizens to avoid committing suicide as non-memory firms cratered on Thursday. Shares of Eugene Technology fell 16.5%, Samsung Electro-Mechanics dropped 15.3%, and transformer maker Hyosung Heavy slid 14.7%, indicating that investor fear has shifted from chip oversupply to a general capex scare.
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