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On July 16, memory-related stocks listed on the U.S. stock market experienced a collective nosedive overnight. SanDisk saw its shares plummet by over 8%, SK Hynix dropped more than 9%, Western Digital's stock declined by over 8.7%, and Micron Technology shed 8% of its value. The repercussions of this downturn were immediately felt in the South Korean stock market the following morning. The KOSPI index took a substantial hit, falling over 7%. Samsung Electronics' shares dropped more than 9%, and SK Hynix's stock declined by over 12%. Meanwhile, memory-related stocks on the Hong Kong stock market also opened on a lower note. Both Southern Double Long SK Hynix and Southern Double Long Samsung Electronics witnessed sharp declines of nearly 15%, while GigaDevice and Montage Technology saw their shares drop by over 5%.
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