South Korean stocks plunge, erasing AI rally gains as chip selloff deepens

Shares in Asian chip firms plunge further as AI sell-off continues

SK Hynix posted record Q2 profits yet underwhelmed investors, triggering 16% stock collapse and Kospi's steepest 2-day slide in months. The sell-off exposes investor anxiety over AI datacenter capex sustainability and memory-chip margin pressures amid the spending boom.