South Korea’s KOSPI index closed down sharply by 5.47%, with SK Hynix plunging more than 10%.
1 hours ago
According to Bitget market data, South Korea’s KOSPI index closed down 348.9 points, or 5.47%, to 6035.34 points. SK Hynix plummeted 10.09%, while Samsung Electronics fell 7.38%. The market concern driving today’s slump first stems from rising competitiveness out of China. ChangXin Memory Technologies recently disclosed it has made key progress on a memory chip architecture that both Samsung Electronics and SK Hynix are also advancing. While this technological breakthrough remains distant from translating into large-scale, commercial competitive production capacity, investors have begun reassessing how the catch-up by Chinese memory makers will impact the future pricing power and valuation premiums of South Korea’s two leading chip giants.
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