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South Korean shares slump 7% on renewed selling in chipmakers, c.bank hikes rates
South Korean shares experienced a significant decline on Thursday, driven by chipmaker stock sell-offs. The Bank of Korea raised its benchmark interest rate for the first time in over three years. This move aimed to stabilize the nation's weakening currency against the US dollar. Major chipmakers like SK Hynix and Samsung Electronics saw substantial drops in their stock values. Despite recent volatility, the KOSPI index has shown strong performance year-to-date.
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thehindubusinessline.com
South Korean shares sink over 5% as chipmakers slide on AI concerns
South Korean shares plunge over 5% as chipmakers falter amid AI concerns, triggering trading curbs on the KOSPI.
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economictimes.indiatimes.com
South Korean shares slump 7% on renewed selling in chipmakers, c.bank hikes rates
South Korean shares experienced a significant decline on Thursday, driven by chipmaker stock sell-offs. The Bank of Korea raised its benchmark interest rate for the first time in…
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Explained: 3 reasons why South Korea's Kospi crashed up to 8% today
South Korea's Kospi slumped as much as 8%, briefly triggering a sidecar trading curb, as a Bank of Korea rate hike, a sharp sell-off in AI chip giants Samsung Electronics and SK…