Story perspectives

KOSPI drops 10.8% as Samsung, SK Hynix tumble.

7/28/2026

Summary

Story summary

The KOSPI fell 10.84% to 6,023.66 on July 28 after Samsung Electronics and SK Hynix shares slumped.
Samsung fell about 14% while SK Hynix fell 13.4% in Seoul.
SK Hynix ADR closed 7.5% lower at $143.02, under its $149 IPO price.
The selloff reflected worries about AI infrastructure financing, Chinese competition and China’s deep-ultraviolet lithography progress.
CXMT’s Shanghai debut jumped 466% while Nvidia shares fell 5% after a report of $250 billion OpenAI data-centre backstop.

History

Historical Context

The March 2000 dot-com crash saw the NASDAQ fall 78% from its peak, prompting regulators to watch speculative tech bubbles. Over two decades later, July 2024’s KOSPI slide in South Korea echoed that pattern as Samsung Electronics and SK Hynix fell 14% and 13.4% amid global AI-financing concerns, reviving fears of another market-wide correction and the broader tech sector.

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Story summary

The KOSPI fell 10.84% to 6,023.66 on July 28 after Samsung Electronics and SK Hynix shares slumped.
Samsung fell about 14% while SK Hynix fell 13.4% in Seoul.
SK Hynix ADR closed 7.5% lower at $143.02, under its $149 IPO price.
The selloff reflected worries about AI infrastructure financing, Chinese competition and China’s deep-ultraviolet lithography progress.
CXMT’s Shanghai debut jumped 466% while Nvidia shares fell 5% after a report of $250 billion OpenAI data-centre backstop.

1 / 2