South Korean Kospi Index Plunges Over 4% Amid Chip Stock Pressure and US-Iran Tensions

Deep News06-11

Investor concerns regarding the stability of the AI boom and the impact of conflict involving Iran have led to an intensified sell-off in semiconductor stocks. This has dragged the South Korean Kospi index down by as much as 4.4%, reaching its lowest level since May 20th. Samsung Electronics, SK Hynix, and SK Square were the biggest contributors to the index's decline.

The Kospi index has now fallen for a second consecutive day, extending this week's period of significant volatility. The smaller-cap Kosdaq index also dropped sharply, at one point falling by 3.2%.

During Thursday's early trading session, the South Korean stock market underperformed other major markets in the Asia-Pacific region, with the MSCI Asia Pacific Index declining by as much as 1.4%.

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