KOSPI plunges despite Samsung's surprise earnings8% drop triggers a circuit breaker
7KOSPI fell more than % during intraday trading, triggering the year's sixth circuit breaker. Samsung Electronics announced operating profit of 8% or more2quarter operating profit of 89trillion4000hundred million won, but its share price fell sharply, while volatility in AI-related stocks expanded across Asian markets.
KOSPI7fell more than % during intraday trading, triggering a circuit breaker. Trading was temporarily suspended.8)
Samsung Electronics announced that its2quarter operating profit was 89trillion4000hundred million won.
The company said this was a 19-fold increase from the same period a year earlier and that revenue also more than doubled.
Immediately after the announcement, Samsung Electronics' share price fell by approximately 8% and SK hynix showed weakness in the 9% range.
Japan's Nikkei225index fell by 2.38%, recording 68,078.92.
Tokyo Electron fell by 4.05%, while Kioxia Holdings plunged by 12.16%.
Hong Kong's Hang Seng Index fell by 0.65%, posting 23,463.23.
The Shanghai Composite Index fell by 1.55%, while the Taiwan Weighted Index fell by 3,978.64 and the Taiwan Weighted Index fell by 2.14%.
India's Sensex index rose slightly by 0.25%.
AI-related stocks repeatedly experienced sharp rises and falls as concerns grew that their recent share prices had become expensive relative to their earnings.
Stephen Innes of SPI Asset Management said, "The real AI stress test could come from weak demand, capital expenditure warnings, or a crack in the data-center narrative."
South Korea's stock market recorded the largest decline among major Asian markets that day.
Sources: 뉴시스 경제
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