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South Korea's Kospi share index falls 8%, other Asian shares are also mostly lower
South Korea’s Kospi share index has dropped 8% on prolonged selling of chipmaking shares
A screen shows the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, July 28, 2026. (AP Photo/Ahn Young-joon)
Updated 1 hour ago
TOKYO (AP) — South Korea’s Kospi share index dropped 8% on Wednesday on prolonged selling of chipmaking shares.
The latest rout was led by a plunge in shares in chipmaker SK Hynix after its operating profit in the last quarter fell short of analysts’ forecasts even though it soared sixfold to a record 60.5 trillion won ($41.2 billion).
By midday in Seoul, the Kospi was down 8% at 5,547.77.
SK Hynix sank 12.6% while shares in Samsung Electronics dropped 8%.
Other Asian markets also mostly declined. In Tokyo, the Nikkei 225 lost 1.1%, while Taiwan’s Taiex shed 3.6%. The Shanghai Composite index fell 0.5%.