SEOUL, June 26 — South Korea’s benchmark Kospi index briefly halted trading Friday after plunging 8.2 per cent, as a sell-off in US technology shares triggered a wave of profit-taking in Asian chip stocks.
The Kospi’s 20-minute circuit breaker kicked in during the morning session. Data shows the index is on track for its biggest weekly decline in more than three months. The trigger was overnight losses on Wall Street that revived concerns over the sustainability of artificial intelligence spending.
Shares of Samsung Electronics and SK Hynix, South Korea’s two largest chipmakers, each fell more than 9 per cent at one point. Foreign investors offloaded Kospi-listed shares worth about 2.6 trillion won ($1.68 billion) during the session, the exchange data shows.
The weakness followed a late reversal in US tech stocks on Thursday. The Nasdaq was dragged down as investors worried about hyperscaler spending on AI infrastructure, officials noted. The central question, market participants said, is who will ultimately foot the bill for the massive capital outlays.
Strong demand signals from US chipmakers Micron Technology and Qualcomm were not enough to offset those concerns, the company said.
For Central Asian markets, the sell-off carries direct implications. Kazakhstan and Uzbekistan have been positioning themselves as potential destinations for AI infrastructure investment, touting cheap power and proximity to major markets. A pullback in hyperscaler spending could slow those plans.
The Kospi’s circuit-breaker halt is a rare event. It underscores how quickly sentiment has shifted from the AI-driven rally that lifted Asian tech stocks earlier this year. The question now is whether the correction deepens or finds a floor.
Trading resumed after the 20-minute pause, but the index remained deeply in the red. Analysts will be watching Monday’s session for signs of stabilization or further selling pressure.
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