Asian Markets Decline as South Korea's Kospi Plummets 8%
WHO:
AP News - SK Hynix, Samsung Electronics, Nippon Paper, Micron Technology, Advanced Micro Devices, Applied Materials
WHAT:
AP News - The Kospi stock index closed at 5,663.24 after falling more than 8% earlier in the day.
ABC News - By midday in Seoul, the Kospi was down 8.2% at 5,531.56.
Fast Company - SK Hynix's shares closed over 9.6% down after falling more than 19% during the day, with shares down more than 45% in the last month.
Fast Company - Samsung had fallen more than 5.2% at close and is down over 35% in a month.
Bloomberg Markets - The Shanghai Composite index closed at 3,830.02 after reversing early losses to pick up 0.4%.
ABC News - Shares in Nippon Paper fell 1% after the mill in the disaster zone was severely damaged by a recent earthquake.
ABC News - In Australia, the S&P/ASX 200 added 1% to 9,036.90 after the government reported that inflation has remained moderate.
AP News - Brent crude jumped 4.2% to $87.58 a barrel, while benchmark U.S. crude gained 4.2% to $82.58 a barrel.
ABC News - The euro cost $1.1399, up from $1.1391.
AP News - The Kospi stock index closed at 5,663.24 after falling more than 8% earlier in the day.
ABC News - By midday in Seoul, the Kospi was down 8.2% at 5,531.56.
Fast Company - SK Hynix's shares closed over 9.6% down after falling more than 19% during the day, with shares down more than 45% in the last month.
Fast Company - Samsung had fallen more than 5.2% at close and is down over 35% in a month.
Bloomberg Markets - The Shanghai Composite index closed at 3,830.02 after reversing early losses to pick up 0.4%.
ABC News - Shares in Nippon Paper fell 1% after the mill in the disaster zone was severely damaged by a recent earthquake.
ABC News - In Australia, the S&P/ASX 200 added 1% to 9,036.90 after the government reported that inflation has remained moderate.
AP News - Brent crude jumped 4.2% to $87.58 a barrel, while benchmark U.S. crude gained 4.2% to $82.58 a barrel.
ABC News - The euro cost $1.1399, up from $1.1391.
AP News - South Korea’s Kospi stock index dropped 6% on a Wednesday, closing at 5,663.24 after falling more than 8% earlier in the day.
Fast Company - The Kospi index is down over 32% in just the last month.
Bloomberg Markets - South Korea will hold an emergency meeting to discuss the market situation after a stocks rout that has wiped billions of dollars off investors’ holdings.
Al Jazeera - The benchmark KOSPI index dropped as much as 12.6% before closing down 6%, extending a near-11% rout from the previous day.
Al Jazeera - The slide has erased almost 40% of the index’s value from a peak reached little more than a month ago.
AP News - The Kospi stock index closed 6% lower at 5,663.24 after falling more than 8% earlier in the day.
ABC News - By midday in Seoul, the Kospi was down 8.2% at 5,531.56.
Fast Company - SK Hynix's operating profit was reported at 60.54 trillion won ($41.70 billion), compared to the expected 64 trillion won ($44.10 billion).
Bloomberg Markets - The Shanghai Composite index closed at 3,830.02 after reversing early losses to pick up 0.4%.
ABC News - Shares in Nippon Paper fell 1% after the mill in the disaster zone was severely damaged by a recent earthquake.
ABC News - In Australia, the S&P/ASX 200 added 1% to 9,036.90 after the government reported that inflation has remained moderate.
AP News - Brent crude jumped 4.2% to $87.58 a barrel, while benchmark U.S. crude gained 4.2% to $82.58 a barrel.
ABC News - The Nasdaq composite slipped 0.2% on Tuesday.
ABC News - The euro cost $1.1399, up from $1.1391.
AP News - The Kospi stock index closed 6% lower at 5,663.24 after falling more than 8% earlier in the day.
ABC News - By midday in Seoul, the Kospi was down 8.2% at 5,531.56.
Fast Company - SK Hynix reported 79.32 trillion won ($54.64 billion) in revenue for the second quarter, which was a 51% jump from the previous quarter but fell short of predictions for 84 trillion won ($57.86 billion).
Fast Company - SK Hynix's operating profit was reported at 60.54 trillion won ($41.70 billion), compared to the expected 64 trillion won ($44.10 billion).
Bloomberg Markets - The Shanghai Composite index fell 0.5% to 3,793.11.
ABC News - Shares in Nippon Paper, owner of a mill in the disaster zone, fell 1%.
ABC News - In Australia, the S&P/ASX 200 added 1% to 9,036.90.
ABC News - Brent crude jumped 4.2% to $87.58 a barrel, while benchmark U.S. crude gained 4.2% to $82.58 a barrel.
Bloomberg Markets - South Korea will hold an emergency meeting Wednesday evening to discuss the market situation after a stocks rout that has wiped billions of dollars off investors’ holdings.
Fast Company - SK Hynix reported 79.32 trillion won ($54.64 billion) in revenue for the second quarter, which fell short of predictions for 84 trillion won ($57.86 billion).
Fast Company - SK Hynix's operating profit was reported at 60.54 trillion won ($41.70 billion), compared to the expected 64 trillion won ($44.10 billion).
Fast Company - South Korea’s Kospi stock index is down over 32% in just the last month.
Fast Company - SK Hynix closed over 9.6% down after falling more than 19% during the day, with shares down more than 45% in the last month.
Fast Company - Samsung had fallen more than 5.2% at close and is down over 35% in a month.
Fast Company - SK Hynix reported 79.32 trillion won ($54.64 billion) in revenue for the second quarter, falling short of predictions for 84 trillion won ($57.86 billion).
Fast Company - SK Hynix's operating profit was reported at 60.54 trillion won ($41.70 billion), compared to the expected 64 trillion won ($44.10 billion).
AP News - The Kospi closed 6% lower at 5,663.24 after falling more than 8% earlier in the day.
AP News - SK Hynix shares sank 9.4%, while Samsung Electronics shares dropped 4.8%.
AP News - The Nikkei 225 lost 1.5% to 61,434.19, while Taiwan’s Taiex shed 3.8%.
AP News - Brent crude jumped 3.1% to $84.58 a barrel, while benchmark U.S. crude gained 3.6% to $82.14 a barrel.
AP News - South Korea’s Kospi stock index dropped more than 8%, closing at 5,663.24 after falling as much as 8% earlier in the day.
ABC News - SK Hynix's operating profit soared nearly sixfold to a record 60.5 trillion won ($41.2 billion) but fell short of analysts’ forecasts.
ABC News - SK Hynix shares sank 12.6%, while Samsung Electronics shares dropped 8%.
ABC News - The Nikkei 225 lost 1.8% to 61,038.63, while Taiwan’s Taiex shed 3.6%.
AP News - Brent crude jumped 3.1% to $84.58 a barrel, while benchmark U.S. crude gained 3.6% to $82.14 a barrel.
ABC News - The S&P 500 added 0.2%, and the Dow Jones Industrial Average jumped 1%.
ABC News - Micron Technology’s stock sank 8.9%, Advanced Micro Devices was down 8.1%, and Applied Materials fell 7.8%.
WHERE:
AP News - South Korea.
Bloomberg Markets - South Korea.
Bloomberg Markets - South Korea will hold an emergency meeting to discuss the market situation after a stocks rout.
AP News - South Korea, Tokyo, Japan, Taiwan, Hong Kong, Australia, Iran
WHEN:
ABC News - The Kospi index had recently topped 9,000 before falling to its lowest level since early April.
WHY:
Al Jazeera - South Korean Finance Minister Koo Yun-cheol apologized for the introduction of single-stock leveraged exchange-traded funds, stating they had not been considered carefully enough.
Al Jazeera - The government is reviewing market stabilization measures, including regulation of leveraged exchange-traded funds, which some analysts blame for increasing leveraged trading in Seoul’s market.
Al Jazeera - South Korean Finance Minister Koo Yun-cheol apologized for the introduction of single-stock leveraged exchange-traded funds, stating they had not been considered carefully enough.
Al Jazeera - The government is reviewing market stabilization measures, including regulation of leveraged exchange-traded funds, which some analysts blame for increasing leveraged trading in Seoul’s market.
Al Jazeera - South Korean Finance Minister Koo Yun-cheol apologized for the introduction of single-stock leveraged exchange-traded funds, stating they had not been considered carefully enough.
Al Jazeera - The government is reviewing market stabilization measures, including regulation of leveraged exchange-traded funds, which some analysts blame for increasing leveraged trading in Seoul’s market.
AP News - Investors reacted to a major earthquake that rattled the southern Kyushu region of Japan, which caused severe damage and disruptions for automakers and other manufacturers.
AP News - Doubts over massive investments in artificial intelligence led investors to sell shares in chipmakers.
ABC News - The market was affected by a major earthquake that rattled the southern Kyushu region of Japan.
HOW:
AP News - Oil prices rebounded as a brief pause in fighting in the Iran war was shattered, with Jordan’s air defenses intercepting five missiles launched from Iran.
AP News - Oil prices rebounded as a brief pause in fighting in the Iran war was shattered, with Jordan’s air defenses intercepting five missiles launched from Iran.
AP News - Oil prices rebounded as a brief pause in fighting in the Iran war was shattered, with Jordan’s air defenses intercepting five missiles launched from Iran.
AP News - Investors reacted to various developments, including progress in China toward cheaper, advanced AI models.
(UPDATED July 30, 2026 07:48 UTC)
The Kospi stock index in South Korea experienced a significant drop, closing at 5,663.24 after falling more than 8% earlier in the day, while shares of SK Hynix plummeted over 9.6% and Samsung fell more than 5.2%. South Korean Finance Minister Koo Yun-cheol has apologized for the introduction of single-stock leveraged exchange-traded funds, which are under review as the government considers market stabilization measures. Meanwhile, oil prices rebounded, with Brent crude jumping 4.2% to $87.58 a barrel, following a brief pause in fighting in the Iran war, during which Jordan intercepted missiles launched from Iran.
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(UPDATED July 30, 2026 06:46 UTC)
The Kospi stock index experienced a significant drop, closing at 5,663.24 after falling more than 8% earlier in the day, while shares of SK Hynix plummeted over 9.6%, reflecting a staggering decline of more than 45% in the last month. South Korean Finance Minister Koo Yun-cheol has apologized for the introduction of single-stock leveraged exchange-traded funds, acknowledging that they were not adequately considered, and the government is now reviewing market stabilization measures. Meanwhile, in Australia, the S&P/ASX 200 rose by 1% to 9,036.90, buoyed by moderate inflation reports, while Brent crude prices jumped 4.2% to $87.58 a barrel.
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(UPDATED July 30, 2026 05:53 UTC)
South Korea's Kospi stock index experienced a significant drop, closing down 6% at 5,663.24 after plummeting more than 8% earlier in the day, marking a staggering decline of over 32% in just the last month. The government is set to hold an emergency meeting to address the market turmoil, which has erased nearly 40% of the index's value from its peak just over a month ago. Finance Minister Koo Yun-cheol has apologized for the introduction of single-stock leveraged exchange-traded funds, acknowledging that they were not adequately considered, and the government is now reviewing potential market stabilization measures.
--
(UPDATED July 30, 2026 03:55 UTC)
The Kospi stock index experienced a significant drop, closing 6% lower at 5,663.24 after an earlier decline of more than 8%. In contrast, the Shanghai Composite index managed to reverse early losses, closing up 0.4% at 3,830.02, while in Australia, the S&P/ASX 200 rose by 1% to 9,036.90 amid moderate inflation reports. Additionally, Brent crude prices surged by 4.2% to $87.58 a barrel, and the euro increased slightly to $1.1399.
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(UPDATED July 30, 2026 02:49 UTC)
The Kospi stock index experienced a significant drop, closing 6% lower at 5,663.24 after an earlier decline of more than 8%. In the commodities market, oil prices rebounded sharply, with Brent crude rising 4.2% to $87.58 a barrel following a brief pause in fighting in the Iran war, during which Jordan's air defenses intercepted five missiles launched from Iran. Meanwhile, SK Hynix reported impressive second-quarter revenue of 79.32 trillion won, a 51% increase from the previous quarter, though it fell short of expectations.
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(UPDATED July 30, 2026 00:16 UTC)
South Korea is set to hold an emergency meeting on Wednesday evening to address the recent market turmoil that has resulted in billions of dollars lost for investors. In the second quarter, SK Hynix reported revenue of 79.32 trillion won, which fell short of expectations of 84 trillion won, while its operating profit came in at 60.54 trillion won, below the anticipated 64 trillion won. This financial news comes amid a significant stocks rout affecting the country's economic landscape.
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(UPDATED July 29, 2026 14:43 UTC)
South Korea's Kospi stock index has plummeted over 32% in just the last month, prompting an emergency meeting to address the market situation. Major players like SK Hynix and Samsung have also seen significant declines, with SK Hynix closing down more than 9.6% after a drop of over 19% during the day, and Samsung falling more than 5.2% at close. Additionally, SK Hynix reported second-quarter revenue of 79.32 trillion won, which was below expectations, along with an operating profit that also fell short of predictions.
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(UPDATED July 29, 2026 08:54 UTC)
The Kospi experienced a significant drop, closing 6% lower at 5,663.24 after initially falling more than 8% during the day, with SK Hynix shares sinking 9.4% and Samsung Electronics shares dropping 4.8%. Meanwhile, the Nikkei 225 lost 1.5% to 61,434.19, and Taiwan’s Taiex shed 3.8%, as investors reacted to a major earthquake that caused severe damage in Japan's southern Kyushu region, impacting automakers and other manufacturers. In the oil market, Brent crude jumped 3.1% to $84.58 a barrel, and benchmark U.S. crude gained 3.6% to $82.14 a barrel, following a brief pause in fighting in the Iran war that was disrupted by Jordan's air defenses intercepting five missiles launched from Iran.
--
(UPDATED July 29, 2026 07:55 UTC)
South Korea’s Kospi stock index experienced a significant drop of more than 8%, closing at 5,663.24 after earlier falling as much as 8%, marking its lowest level since early April. Meanwhile, SK Hynix reported a record operating profit of 60.5 trillion won, but its shares plummeted 12.6%, alongside declines for Samsung Electronics and other chipmakers like Micron Technology and Advanced Micro Devices. The market turmoil was compounded by doubts over investments in artificial intelligence and a major earthquake that shook the southern Kyushu region of Japan.