finance
Kospi Index Falls 10 Percent, Triggers 20-Minute Trading Halt After Chip-Stock Selloff
@MarioNawfal reported that South Korea's Kospi fell sharply and triggered a brief trading pause. Chip stocks had rallied earlier in the year before margin-driven selling accelerated the drop.
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The Kospi index closed down 10 percent as the Korean exchange implemented a 20-minute trading halt. @MarioNawfal reported the move followed heavy selling in chip stocks. Samsung and SK Hynix, identified as the main chip giants behind the prior rally, saw SK Hynix shares rise nearly 350 percent during the year.
Retail traders had increased exposure through borrowed funds, pushing margin debt to a record level. Forced liquidations began once selling started and added downward pressure on prices. The sequence left the market lower at the close.
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