Japanese and South Korean Markets Lose $363B on July 8 as Chipmakers Lead Selloff

According to market data, on July 8, Japanese and South Korean stock markets lost approximately $363 billion in combined market value as a tech-led selloff hit the region. Japan's Nikkei 225 fell 2.11% to 66,819.05, wiping out roughly $120 billion, while South Korea's KOSPI dropped 5.35% to 7,246.79, erasing about $243 billion in market capitalization.

Chipmakers bore the brunt of selling pressure. Samsung Electronics declined 6.25% to 277,500 won, its lowest level in over a month, while SK Hynix fell 5.68%. The sharp losses followed a post-earnings selloff on July 7 that triggered historic volatility in Korean markets. Overnight declines in U.S. technology stocks and the Philadelphia Semiconductor Index also weighed on the region, as investors reduced exposure to AI-related trades that had surged earlier in the year.