Korea's Kospi Drops as Much as 6.8% as Samsung and SK Hynix Fall More Than 8%

Korea's Kospi dropped as much as 6.8% Wednesday, with Samsung and SK Hynix each falling more than 8%. Bloomberg's Asian chip index now sits 19% below its June record.
An analyst attributed the selloff to rising long yields lifting the discount rate, noting that the most expensive growth names de-rate first, with AI-levered Asian chips showing that repricing before it reaches U.S. megacaps.