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South Korea's KOSPI Plunges 6.37% to 6,820 as Data Center Delays Trigger Chip Stock Selloff

2026-07-16 09:02:37

MS0.10%

Samsung Electronics-8.76%

SK Hynix-11.52%

SKHY-8.93%

SKHYV-0.98%

According to Maeil Business News, South Korea's KOSPI index fell 6.37% to 6,820.60 on July 16 after Morgan Stanley warned that data center project cancellations and delays are expanding due to rising power costs and environmental concerns. The selloff triggered the second sell-side circuit breaker in as many days. Samsung Electronics dropped 8.77% and SK Hynix slid 11.53%, while the latter's U.S. depositary receipts (ADR) plunged 9% overnight as investors rotated out of AI infrastructure plays. Global chip stocks also declined, with Philadelphia Semiconductor Index down 2.1%.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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