Samsung Electronics, SK Hynix shares tumble amid global tech selloff
Business
South Korea's big chip companies, including Samsung Electronics and SK Hynix, saw their stocks drop over 8% on Wednesday, part of a global tech selloff that also hit US companies like NVIDIA.
The Kospi index fell as much as 6.8% before paring some losses, echoing worries across markets about the future of high-tech investments.
US yields pressure South Korea chipmakers
US 30-year Treasury bond yields just hit their highest levels since 2007, making it much pricier for tech firms to borrow money.
That's got investors questioning whether huge spending on AI and new data centers can keep up in this expensive environment, especially for South Korea, where chipmakers account for a substantial part of its equity market.