{"id":253500,"date":"2026-07-28T04:38:10","date_gmt":"2026-07-28T04:38:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/253500\/"},"modified":"2026-07-28T04:38:10","modified_gmt":"2026-07-28T04:38:10","slug":"asian-shares-slip-and-south-koreas-kospi-index-sinks-10-on-heavy-selling-of-chipmaking-stocks-ap-business","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/253500\/","title":{"rendered":"Asian shares slip and South Korea\u2019s Kospi index sinks 10% on heavy selling of chipmaking stocks | Ap-business"},"content":{"rendered":"<p>HONG KONG (AP) \u2014 South Korea\u2019s Kospi index plunged more than 10% on Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability of the boom in artificial intelligence.<\/p>\n<p>Oil prices fell more than 1%, while U.S. futures were little changed.<\/p>\n<p>Trading was temporarily halted as Kospi dropped to its lowest level since April as shares in chipmakers Samsung Electronics and SK Hynix dropped sharply. The Kospi was down 10.5% at 6,051.19 by midday.<\/p>\n<p>Samsung&#8217;s shares tumbled 12% while those for SK Hynix were down 12.7%.<\/p>\n<p>A big factor driving the selling of AI-related shares, analysts said, is the expectation that competition from <a href=\"https:\/\/apnews.com\/article\/china-ai-model-us-kimi-deepseek-a00bf637866fcd4d81f4fde28c9862ce\" rel=\"nofollow noopener\" target=\"_blank\">Chinese AI startup<\/a> s and chipmakers might undermine gains for global companies whose shares have skyrocketed due to the AI frenzy.<\/p>\n<p>A 466% jump in the price of <a href=\"https:\/\/apnews.com\/article\/cxmt-china-memory-chips-debut-shares-9cd8b79866cf4bd5ef7c1cb81215e796\" rel=\"nofollow noopener\" target=\"_blank\">Chinese chipmaker CXM<\/a> T in its trading debut Monday has underscored such concerns. CXMT raised at least $8.6 billion in its initial public offering on Shanghai\u2019s tech-oriented STAR exchange.<\/p>\n<p>Most other Asian markets also fell, with Tokyo\u2019s Nikkei 225 down 4% at 62,350.18. The Taiex in Taiwan skidded 3.9%.<\/p>\n<p>Hong Kong&#8217;s Hang Seng edged 0.1% lower, to 25,178.21, while the Shanghai Composite index lost 1% to 3,820.52.<\/p>\n<p>In Australia, the S&amp;P\/ASX 200 balked the regional trend, gaining 0.6% to 8,944.40.<\/p>\n<p>Oil prices extended their declines as U.S. and Iran refrained from attacks for a third straight day.<\/p>\n<p>Officials in the Middle East said mediators had made progress in getting the two sides back to negotiations.<\/p>\n<p>Brent crude, the international standard, fell 0.8% to $85.16 a barrel.<\/p>\n<p>U.S. benchmark crude oil lost 0.9% to $81.86 a barrel.<\/p>\n<p>Stocks on Wall Street drifted to a mixed close Monday.<\/p>\n<p>The S&amp;P 500 rose less than 0.1% and the Dow Jones Industrial Average rose 0.5%. The Nasdaq composite fell 0.2% for its fourth straight loss.<\/p>\n<p>Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.<\/p>\n","protected":false},"excerpt":{"rendered":"HONG KONG (AP) \u2014 South Korea\u2019s Kospi index plunged more than 10% on Tuesday on heavy selling of&hellip;\n","protected":false},"author":2,"featured_media":253501,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[1609,153,155,154,60,18261,38,2963,63442,46799,108127,1128,301],"class_list":["post-253500","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bethlehem","tag-artificial-intelligence","tag-bethlehem","tag-bethlehem-headlines","tag-bethlehem-news","tag-business","tag-financial-markets","tag-general-news","tag-information-technology","tag-oil-and-gas-industry","tag-semiconductor-manufacturing","tag-stock-markets-ai-chips-oil","tag-sustainability","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/253500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=253500"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/253500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/253501"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=253500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=253500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=253500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}