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KOSPI dives after AI spending doubts spark chip sell-off

South Korea’s KOSPI 200 futures tumbled so sharply that the Korea Exchange activated a five-minute “sidecar” trading curb to halt program sell orders.

Reported · Written up by our desk · Major Pairs

Asian stocks fell sharply on Tuesday as doubts about the financial returns from artificial intelligence spending triggered a broad sell-off in global semiconductor shares, with the weakness rippling from Wall Street into Asia.

South Korea’s benchmark KOSPI bore the brunt, dropping 9.45% to near 6,120, while major chipmakers including SK Hynix slid as much as 13% and Samsung Electronics fell up to 10%. The MSCI Asia Pacific equity gauge fell more than 3% overall.

The sell-off was severe enough that steep declines in KOSPI 200 futures led the Korea Exchange to activate a five-minute sidecar trading curb, temporarily suspending program sell orders, marking the index’s 22nd such halt this year.

Elsewhere, Japan’s Nikkei 225 fell 4.38% to a two-month low near 62,090 and the Topix index declined 2.3% to 3,973. China’s SSE Composite closed down 0.83% near 3,830, while Hong Kong’s Hang Seng rose 0.58% near 25,350, helped by capital inflows and ongoing enthusiasm for local tech and AI shares, according to FXStreet.

Latest closeNikkei 225 64,611.15 ▼2.7%|Hang Seng 24,963.23 ▼1.0%|Kospi 6,690.62 ▼5.7%

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