KOSPI crashes 8%, Nikkei down 4% as Asian markets feel the AI sell-off heat – CNBC TV18

The Asian markets have gotten off to a forgettable start to the day's trade today (Thursday, October 15), with all the key indices crumbling under the pressure of the global chip sell-off rout.

A major selloff in global equity markets spilt into the Asia-Pacific region as semiconductor stocks fell after unexpectedly high United States inflation data reinforced market expectations that the Federal Reserve will raise interest rates further. Treasury securities appreciated on safe-haven buying, a Bloomberg report underscored.

South Korea's Kospi Index, recognised as a key indicator for artificial intelligence sector investments, experienced the most significant regional deterioration with an 8% decline as major chipmakers Samsung Electronics Co. and SK Hynix Inc. each experienced losses exceeding 8%. The Japanese benchmark, the Nikkei 225, slumped over 4% intraday, and the TOPIX slipped 2%.

Meanwhile, the GIFT Nifty at Dalal Street hinted at a negative start to the Indian markets ahead of the day's trade.

The MSCI Inc. Asia Pacific equities index declined by 2.2%, positioning itself toward its lowest closing since July.

Technology sector sentiment remained subdued, with Nasdaq 100 Index futures contracting by 0.8%. The Asian market decline followed a substantial downturn on Wall Street that pushed the Russell 2000…

Original source: https://www.cnbctv18.com/technology/