South Korean Stock Market Plunges, Led by Chipmakers Following US Downturn

Deep News08:21

South Korea's Kospi index experienced a sharp decline of up to 5%, marking a second consecutive day of losses. This drop followed an overnight slump in US semiconductor stocks, which dragged down shares of related South Korean companies.

Major players such as SK Hynix, Samsung Electronics, and SK Square led the market lower. The US chip stock index closed down 2.2% on Thursday, with Micron Technology (MU) suffering a significant 7.7% drop.

South Korea's secondary Kosdaq index, which focuses on smaller companies, also fell sharply, dropping as much as 2.9% during the session.

In early Friday trading, the South Korean market stood out as the worst performer in Asia, with the broader MSCI Asia Pacific index declining by approximately 1%.

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