South Korean stocks crater as chipmaker selloff erases months of AI gains

KOSPI Extends Historic Selloff After Worst Month Since 2008 as Samsung, SK Hynix Tumble Nearly 8% - SK hy

KOSPI crashed 4%, July worst since 2008 (-22%), Samsung and SK Hynix -8% as AI valuations unwind amid retail leverage exit. Memory-chip duopoly (50% weight) signals slowing hyperscaler spend and AI overcrowding, forcing global valuation recalibration.