South Korea Financial Markets

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.

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World shares are mixed, while South Korea’s Kospi sinks nearly 11% on heavy selling of chipmakers

World shares are mixed, while South Korea’s Kospi sinks nearly 11% on heavy selling of chipmakers

South Korea's Kospi index has plunged nearly 11% on heavy selling of chipmaking stocks that have been battered recently by waves of fears that the boom in artificial intelligence may be a bubble. European shares opened higher after a day of losses for most Asian markets. The Kospi dropped to its lowest level since April as shares in chipmakers Samsung Electronics and SK Hynix plunged. Oil prices fell. One factor driving the selling of AI-related shares is the expectation that competition from Chinese AI startups and chipmakers might undermine gains for global companies whose shares have skyrocketed due to the AI frenzy.