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A decline in demand for artificial intelligence infrastructure investments has caused significant losses in South Korean equities, extending beyond the semiconductor sector. The KOSPI fell 7.6% on Thursday, triggering market-wide circuit breakers, and has declined 21% over seven sessions, its steepest drop since the March 2020 pandemic crash. President Yoon Suk-yeol urged citizens to avoid suicide amid the market turmoil, as shares of Eugene Technology, Samsung Electro-Mechanics, and Hyosung Heavy fell by double digits.
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Key sources
- SOURCE@kobeissiletter“extending losses to over -8% on the day, triggering a level 1 circuit breaker”x.com
- SOURCE@zerohedge“The Sell-off was most pronounced in Semis which closed the day down -12%”x.com
- SUPPORT@laurashin“fell more than 9% intraday on Thursday and triggered a 20-minute circuit breaker”x.com
- SUPPORT@litcapital“the president is telling people not to commit suicide”x.com
- SUPPORT@thelonginvest“This is a very concerning comment to make by the President of South Korea”x.com
- SOURCE@elonmusk“China will be making a LOT of RAM in 2028”x.com
- SUPPORT@melvininvests“the global memory industry could face oversupply beginning in 2029 as new manufacturing capacity starts coming online”x.com
- SUPPORT@mr_derivatives“$SKHY down 9 days in a row”x.com