South Korea's KOSPI crashed 12.6% intraday after doubling on AI chip demand, erasing $2.18 trillion before rebounding 17.9% the next day.

South Korea's stock market staged its sharpest reversal on record on Friday, capping a month of wild swings.

KOSPI plunged 10.8% as Samsung and SK Hynix sold off sharply after China's CXMT IPO surged 466%, rattling global chip and crypto risk sentiment.