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South Korean stocks plunge to three-month low as investors dump chip shares
2 day ago /
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Author：小编
South Korean stocks tumbled more than 4% on Monday, closing at their lowest level since late April. Investors accelerated their exit from artificial intelligence-related investments, triggering a selling spree that wiped out more than a quarter of the market's value in a month. The sharp correction in memory chipmakers' shares highlighted the market's over-reliance on SK Hynix and Samsung Electronics, while reflecting investor unease over the rally fueled by leveraged bets on the two chipmakers. Retail investors suffered heavy losses, as the convenience of single-stock leverage funds sparked a borrowing-to-invest frenzy.
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