South Korea's KOSPI Composite Index sank by just below 10% on Tuesday, driven by sharp declines in memory chipmakers SK Hynix and Samsung, which together account for about 50% of the index. The sell-off was part of a broader tech rout that also pressured the Philadelphia Semiconductor Index, with SK Hynix's plans to expand DRAM resources raising questions about high-bandwidth memory demand. Despite the drop, the KOSPI remains up almost 100% year-to-date, and technical analysts note the index is testing a key trend line that could determine whether the bull run resumes or a deeper correction takes hold.
SK Hynix IncPlans to expand DRAM resources raise questions about high-bandwidth memory demand.
Samsung Electronics Co LtdDragged down by memory chip losses and broader tech rout, with no company-specific positive news.