Seoul Chip Stocks Fall Over 8%

The South Korean Kospi index dropped by 8.2 percent to settle at 5,531.56 points, amid ongoing declines in electronic chip company shares, especially SK Hynix, which reported quarterly profits below analyst expectations despite being higher than last year. This decline pushed the index to its lowest level since early April, after having previously surpassed 9,000 points. Other Asian markets also experienced declines, although some, like Hong Kong and Australia, saw gains. This was accompanied by a drop in oil prices after reaching their highest levels in two months, with Brent crude falling to $87.6 per barrel.

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