South Korea’s KOSPI Extends Losses to 7% as Chip Shares Slide

South Korea’s KOSPI extended its decline to 7% on Oct. 15, deepening a sharp move in Asian equities. SK Hynix shares fell 10%, while Samsung Electronics shares dropped about 8%, giving investors measures of the slide in the broad index and two individual stocks. The Korean market had opened down more than 5%, and the KOSPI’s loss later widened to 7%. The Korea Exchange also activated a sidecar that halted program selling during the decline.

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