Add as a preferred source on GoogleSouth Korea’s KOSPI Falls 6.5% as AI Crypto Tokens Slide
The index dropped to about 6,002 as investors sold semiconductor stocks after Chinese chipmaker CXMT announced a new memory-chip design.
South Korea’s KOSPI index fell 6.5% to about 6,002 on Oct. 13, while AI-linked crypto tokens declined as much as 10% as semiconductor stocks came under pressure.
Investors sold shares after Chinese chipmaker CXMT announced a new memory-chip design. The development raised concerns about stronger competition for South Korean technology companies Samsung Electronics and SK Hynix.
The equity-market decline spilled into crypto assets tied to artificial intelligence, extending the selloff beyond South Korea’s stock market. The move underscores the sensitivity of AI-related markets to shifts in the semiconductor industry, which supplies key components for computing and data-center infrastructure.
The KOSPI’s drop and the decline in AI-linked tokens marked a broad risk-off move centered on renewed competition in memory chips.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.