KOSPI Falls 3.5% at Open as 2026 Gain Shrinks From 116% to 31%

The Korea Composite Stock Price Index (KOSPI) fell 3.5% at Tuesday’s open as a chip-led AI sell-off drags on, cutting its 2026 gain to about 31% from roughly 116% at its June record close. The index now sits about 39% below that peak. The slide gathered pace in July, when it lost 22%, and October has erased another 17% through Oct. 16. Is the KOSPI Now a Bet on AI Spending? Memory chipmakers Samsung Electronics and SK Hynix accounted for 44% of the index in May. However, the pair fell 19.74% and 28.38% between Oct. 1 and Oct. 16, JoongAng reported. Credit worries over AI spending grew after bond prices fell at cloud provider CoreWeave .

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