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euronews
Shares slip as chip stocks come under heavy selling
Shares in chip companies tanked, leading South Korea's Kospi index to drop by more than 10%. Key market players like Samsung Electronics and SK Hynix reported significant losses. Analysts attribute this downturn to growing concerns that Chinese AI startups and chipmakers could undermine the gains made by global counterparts amid an AI frenzy. This further highlights market volatility as the AI landscape continues to evolve.
MonitorConfidence: HighShort term horizonSupply chain risk: High
Published 28 Jul 2026, 06:05 UTC2 min read
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Summary
TL;DR
- Kospi index dropped 10.5% amid heavy selling in chip stocks.
- Samsung shares fell by 12%, SK Hynix by 12.7%.
- Chinese chipmaker CXMT's IPO raised $8.6 billion, prompting market concerns.
- Major Asian markets experienced declines, with notable exceptions.
- Continued tensions in global markets affected oil prices as well.
Interesting facts
- CXMT's IPO saw a staggering 466% jump on its debut, indicating high market interest and volatility.
- This marks the lowest level for the Kospi since April, highlighting a significant market shift.