TOKYO (AP) — South Korea’s Kospi share index dropped 8% on Wednesday on prolonged selling of chipmaking shares.
The latest rout was led by a plunge in shares in chipmaker SK Hynix after its profit in the last quarter fell short of analysts’ forecasts even though it soared.
By midday in Seoul, the Kospi was down 8% at 5,547.77.
SK Hynix sank 12.6% while shares in Samsung Electronics dropped 8%.
Other Asian markets also mostly declined. In Tokyo, the Nikkei 225 lost 1.1%, while Taiwan’s Taiex shed 3.6%. The Shanghai Composite index fell 0.5%.
