SK Hynix shares plunge nearly 15% in Seoul as chip sell-off deepens
SEOUL, July 28. SK Hynix shares fell nearly 15% in Seoul on Tuesday as South Korean semiconductor stocks tumbled broadly, extending a rout in chipmakers that had built through another weak session on Wall Street.
Key takeaways
- SK Hynix shares fell nearly 15% in Seoul on Tuesday, July 28.
- South Korean semiconductor stocks tumbled broadly during the session, extending an existing sell-off in chipmakers.
- The decline followed another weak session on Wall Street that preceded the moves in Seoul.
- SK Hynix's nearly 15% drop was the standout figure among the broadly falling South Korean chip stocks.
SEOUL, July 28. SK Hynix shares fell nearly 15% in Seoul on Tuesday as South Korean semiconductor stocks tumbled broadly, extending a rout in chipmakers that had built through another weak session on Wall Street.
Pressure across the sector
The nearly 15% decline at SK Hynix was the standout figure in a session that hit chip stocks across South Korea. South Korean semiconductor shares fell broadly on the day, extending a sell-off already under way in chipmakers.
Wall Street's prior session had weakened before Seoul opened. South Korean chip stocks extended those losses on Tuesday, carrying the rout forward into Asian trading.
The U.S. session connection
The sell-off had registered in U.S. markets before it reached Seoul. Another weak Wall Street session preceded the South Korean moves, and South Korean semiconductor shares moved in the same direction. The combined effect left SK Hynix down nearly 15% on Tuesday's session.
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