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The Economic Times

Veer Sharma

South Korea’s Kospi tanks 10% despite US-Iran war optimism. Here are 4 reasons why

United States Iran Kosdaq SK Hynix Dow Samsung Semiconductor the US Federal Reserve

South Korean stocks were hammered on Tuesday as a global sell-off in chipmakers sent technology heavyweights sharply lower, with rising competition from China and a steep fall in SK Hynix's US-listed shares weighing heavily on investor sentiment.

The benchmark Kospi plunged 690.11 points, or 10.22%, to 6,065.64. The steep decline triggered "sidecar" trading curbs on both the Kospi and the junior Kosdaq index, temporarily halting programme trading.

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