The fall due to heavy selling in US tech stocks has also affected Asian markets. Today the Indian stock market is witnessing a decline; By the time the news was written, the Sensex had fallen by 574 points. Among Asian markets, the South Korean stock market was hardest hit, with its main index KOSPI falling by more than 9%. Trading in KOSPI was halted at 11:34 am (Indian time) after a circuit breaker was triggered. Investors lost ₹23 lakh crore in just three hours.
Apart from South Korea, markets of Japan, China, Hong Kong and Australia also appeared under pressure. Japan’s Nikkei 225 index fell about 1.5%, while China’s CSI 300 index dropped about 1%. Hong Kong’s Hang Seng index was also trading lower and Australia’s S&P/ASX 200 index also fell.
**US AI stocks fall**
Heavy selling in technology stocks was seen in the US stock market during Monday’s trading session. This affected the futures of major indexes like S&P 500 and Nasdaq; S&P 500 futures fell 0.53%, while Nasdaq 100 futures lost about 1%. The greatest pressure was on those companies that were expected to benefit most from the AI revolution. The impact of this weakness in the US was also felt in South Korea, because the economy and stock market there are heavily linked to the AI and semiconductor sector.
**There was a rise in Korean shares**
Companies like Samsung Electronics and SK Hynix are the world’s largest suppliers of memory chips used in AI servers and data centers. In the last few months, due to the increasing demand for AI, there was a tremendous rise in the shares of these companies, due to which the KOSPI index also increased significantly. But today, June 23, investors suddenly started booking profits.
The fall due to heavy selling in US tech stocks has also affected Asian markets. Today the Indian stock market is witnessing a decline; By the time the news was written, the Sensex had fallen by 574 points. Among Asian markets, the South Korean stock market was hardest hit, with its main index KOSPI falling by more than 9%. Trading in KOSPI was halted at 11:34 am (Indian time) after a circuit breaker was triggered. Investors lost ₹23 lakh crore in just three hours.
Apart from South Korea, markets of Japan, China, Hong Kong and Australia also appeared under pressure. Japan’s Nikkei 225 index fell about 1.5%, while China’s CSI 300 index dropped about 1%. Hong Kong’s Hang Seng index was also trading lower and Australia’s S&P/ASX 200 index also fell.
**US AI stocks fall**
Heavy selling in technology stocks was seen in the US stock market during Monday’s trading session. This affected the futures of major indexes like S&P 500 and Nasdaq; S&P 500 futures fell 0.53%, while Nasdaq 100 futures lost about 1%. The greatest pressure was on companies that were expected to benefit most from the AI revolution. The impact of this weakness in the US was also felt in South Korea, because the economy and stock market there are heavily linked to the AI and semiconductor sector.
**There was a rise in Korean shares**
Companies like Samsung Electronics and SK Hynix are the world’s largest suppliers of memory chips used in AI servers and data centers. In the last few months, due to the increasing demand for AI, there was a tremendous rise in the shares of these companies, due to which the KOSPI index also increased significantly. But today, June 23, investors suddenly started booking profits.