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South Korean stocks plunged, with Samsung and SK Hynix posting their steepest weekly declines since the 2008 financial crisis
14,451 posts · 4,333 accounts · +88% vs the day before
- South Korean shares fell on Monday, tracking losses in US technology stocks as AI investment concerns weighed on sentiment, but dip buying helped the benchmark recover[1]
- Samsung Electronics dropped 17.8% and SK Hynix fell sharply, marking their steepest weekly declines since 2008 as foreign investors pulled billions from Korea’s chipmakers[9]
- Barchart reported that South Korean stocks continued to plunge, now breaking below July lows[38]
- Japan opened in the red, with the Nikkei sliding 2% and about ¥23.5 trillion ($150 billion) wiped from Japanese stocks at the opening bell[22]
- US futures were looking to rebound after the tech rout, though the broader market test remains ahead[8]
- JPMorgan warned that rising 30‑year Treasury yields are becoming a growing threat to small‑ and mid‑cap stocks, driven by deteriorating government finances worldwide[40]
Posts cited
[1] ETMarkets · @etmarkets ·
#SouthKorean shares fell on Monday, tracking losses in US technology stocks as concerns over the sustainability of artificial intelligence (AI) investments weighed on investor sentiment. However, dip buying helped the benchmark recover from a sharp early decline, according to a report by Reuters. Read more here
Open on X[8] investingLive · @investinglive_ ·
US futures look to rebound after tech rout but the real test is still ahead
Open on X[9] Himanshi 👸 · @himanshitech ·
Samsung Electronics and SK Hynix suffered their steepest weekly stock declines since the 2008 financial crisis as foreign investors pulled billions from South Korea’s chipmakers. $SKHY $META Samsung shares fell 17.8%, while SK Hynix dropped 24.3% during October 12-16. Foreign investors sold 11.2 trillion won in KOSPI stocks, with both companies accounting for 78.8%. Despite Friday’s rebound, concerns over AI-related credit risks persist. Upcoming earnings reports from Meta and Lam Research could offer clues about demand and investor confidence.
Open on X[22] POLKADOT is · @iseungh89354068 ·
🇯🇵 Japan opens in the red. Over ¥23.5 trillion ($150 billion) wiped from Japanese stocks as the Nikkei slides 2% at the opening bell. 🩸
Open on X[38] Barchart · @barchart ·
BREAKING 🚨: South Korea South Korean Stocks continue to plunge and have now taken out the July lows 📉 👀 😱
Open on X[40] unusual_whales · @unusual_whales ·
JPMorgan warns that rising 30-year Treasury yields are becoming a growing threat to small- and mid-cap stocks. The driver: deteriorating government finances around the world. About 60% of global GDP now comes from countries with debt above 100% of GDP and ongoing budget deficits, which JPMorgan calls unprecedented.
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Written by an AI model from public posts; it can be wrong. Check the sources.