South Korea's Kospi falls 3.1% as chip stocks drop on U.S. tech sell-off
Briefing by News4U · First published
Kospi drops toward a fourth straight weekly decline; Samsung and SK Hynix fall more than 2%.
South Korea's Kospi index fell as much as 3.1% on Friday, heading for a fourth consecutive weekly decline, as heavyweight chip stocks dropped after U.S. technology shares were sold off overnight amid rising oil prices, Sina Finance reported. [1]
Samsung Electronics and SK Hynix each declined more than 2% in early trading, while Japan's Nikkei 225 index slipped 0.6%. [1]
The benchmark Kospi has fallen about 20% so far this month, making it the worst-performing major stock market globally in October, Sina Finance reported. [1]
Sources
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