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The Economic Times
The Economic Times
Business
Debaroti Adhikary

Kospi crashes 12% after SK Hynix earnings; best performing Asian market of 2026 plunges 43% in a month. What’s ahead?

SK Hynix Kospi Asia South Korea Stock Market Citi

South Korea's Kospi, which grabbed headlines earlier this year for its skyrocketing rally, crashed more than 11% on Wednesday and continued to wipe out massive sums of investor wealth as heavyweight chipmaker SK Hynix’s earnings failed to impress the market.

Kospi dropped to 5,311.77 on Wednesday morning, marking a more than 43% crash from its June peak of 9,386 to confirm its position in technical bear market territory. Despite the recent crash, South Korea’s stock market continues to be Asia's best performer.

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