posted in Technology

themachinestops@themachinestops@lemmy.dbzer0.com

South Korean stock market at three-month low as AI sell-off intensifies

Goldman’s strategists reckon this means around one in 30 adults in the country, or 3.4% of the adult ⁠population margin called

reuters.com/…/korean-stock-volatility-comes-ameri…

www.theguardian.com/business/2026/jul/28/ai-sell-off-chip-stocks-sk-hynix-samsung
the GuardianSouth Korean stock market at three-month low as AI sell-off intensifiesSamsung and SK Hynix fall by more than 10% amid renewed fears over AI spending and Chinese competition
Edited ⁨⁨Jul⁩ ⁨29⁩, ⁨2026⁩, ⁨21:03⁩⁩enPage
themachinestops@themachinestops@lemmy.dbzer0.com

Replying to @⁨I_Has_A_Hat@lemmy.world⁩

We are not talking about 1 or 2 companies this is the KOSPI similar to S&P in US. This worse than 2008 for Korea. Additionally many Koreans use leverage which means they were margin called and some are even in debt now.

The collapse surpasses the October 1997 IMF crisis, when the index lost 27%, and the October 2008 global financial crisis at 23%.

…yahoo.com/…/south-korea-stock-market-crash-09295…

To fix the situation the government intervened and poured NT$450 Billion investment into AI.

…biggo.com/…/b4b67689-a989-445f-810c-9cb92bca140f

Yahoo FinanceSouth Korea’s Stock Market Crash Is Now Officially Worse Than 1997 and 2008South Korea's stock market crash is now its worst ever. The KOSPI lost over 33% in July, with support at 5,100 in focus.