South Korea’s Kospi share index falls nearly 7%, other Asian shares also mostly lower
Summary
South Korea’s main stock market index, the Kospi, fell 8% due to heavy selling of chipmaking company shares. This drop was mainly caused by SK Hynix’s shares falling after its profits missed expectations, even though it reached a record high in total profits. Other Asian stock markets also mostly went down.Key Facts
- The Kospi index in South Korea dropped 8% on July 29, 2026.
- SK Hynix shares fell 12.6% after its operating profit was below analysts’ forecasts.
- SK Hynix reported a record operating profit of 60.5 trillion won ($41.2 billion), six times higher than before.
- Samsung Electronics shares also dropped 8% on the same day.
- Tokyo’s Nikkei 225 index lost 1.1%.
- Taiwan’s Taiex index fell by 3.6%.
- Shanghai’s Composite index declined by 0.5%.
- The decline was driven mainly by concerns over chipmaker stocks.
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