SK Hynix Drops 5% in Seoul, KOSPI Drops 3% Amid Reported US Pressure for Korean Chipmakers to Invest in A

Asian stocks traded sharply lower at the time of writing, led by a 2.66% drop in South Korea’s KOSPI, while semiconductor heavyweights SK Hynix Inc – ADR (NASDAQ:SKHY) and Samsung Electronics (OTC:SSNLF) slid amid reports of increased U.S. pressure on Korean chipmakers to invest in American facilities.

South Korea Stocks Slide as SK Hynix Shares Tumble

Late Monday, South Korea’s KOSPI fell 2.66% to 6,518.92, extending losses across the benchmark as semiconductor stocks came under pressure.

Shares of SK Hynix in Seoul dropped 5.03% to 1.587 million Korean won, while Samsung Electronics declined 2.92% to 249,500 won.

The sell-off also extended to U.S.-listed SK Hynix shares.