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KOSPI falls 8% as Asian tech shares plunge

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KOSPI falls 8% in one day

South Korea's main stock market plunged. Chip stocks led a sell-off across Asia.

Trading halt

Trading paused for 20 minutes

The fall set off a circuit breaker. A circuit breaker is a safety pause that stops trading.

Chip stocks

Samsung fell 9.70%

Samsung fell 9.70%. SK Hynix fell 11.35%. Both make chips for phones and computers.

Losing run

Seventh straight day of losses

The drop marked a seventh straight day of losses. It is the longest run since September 2024.

Trigger

US inflation triggered the fall

US consumer prices rose 3.7% in September. The number beat the forecast of 3.6%.

Asia

Japan fell too

Japan's Nikkei index fell more than 5%. Tech investor SoftBank fell more than 9%.

Plain words

What is the KOSPI?

The KOSPI is South Korea's main stock index. An index tracks the prices of many big firms.

Selling

Foreign investors sold

Foreign investors sold 2.9 trillion won more shares than they bought. That is about $2.15 billion.

Next

Fed meeting is next

Traders now watch the US Federal Reserve. Its next meeting runs on October 28.

Big picture

Still up this year

The KOSPI is up 31% so far this year. One bad day does not erase a strong year.

Outlook

What happens next

Markets can calm if inflation cools. They can fall more if prices keep rising.

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