South Korea's Kospi tumbles over 5% on chip sector selloff
South Korea's Kospi index fell 5.46% on October 13, 2026, closing at 6,035.35. Major chipmakers SK hynix and Samsung Electronics saw steep declines of 10.09% and 7.39%, respectively, driven by significant foreign investor selling. Analysts attributed the selloff to concerns over AI demand, Chinese memory chip competition, and weakness in U.S. chip stocks. The market decline also followed the conclusion of share buyback programs by the major Korean semiconductor firms.
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