[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-south-korean-stock-index-plung64701a13d7b-3b1d-7dcd-bae5-1ecdf5cd83d1":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":18,"asset":19,"tagsCategories":20,"totalComments":21,"lang":22,"unique_views_count":21,"enrichStatus":23,"triageKind":24,"triageImportance":25,"expandEligible":26,"summarizeEligible":26,"eventEligible":26,"eventType":27,"eventAction":28},"south-korean-stock-index-plung64701a13d7b-3b1d-7dcd-bae5-1ecdf5cd83d1","1792025996000","South Korean stock index plunges 7%, SK Hynix falls 10%","\u003Cp>South Korean stock index plunges 7%, SK Hynix falls 10%\u003C/p>\u003Cp>The domestic stock market plummeted at the opening due to U.S. inflation shocks and a downturn in semiconductor stocks. In the early session, the KOSPI and KOSDAQ fell over 6%, triggering the activation of sell-side circuit breakers that temporarily halt program trading.\u003C/p>\u003Cp>According to the Korea Exchange on the 15th, the KOSPI opened at 5,673.01, down 5.59% from the previous day. As of 9:25 a.m., the KOSPI was down 5.85% at 5,657.49, and the KOSDAQ was down 6.51% at 770.24. At the same time, Samsung Electronics and SK Hynix, the “top two” in the domestic stock market, were trading at 214,750 Korean won and 1.287 million Korean won, down 7.44% and 9.30%, respectively.\u003C/p>\u003Cp>The weakness in the domestic stock market is attributed to fears of interest rate hikes spreading after higher-than-expected U.S. consumer price increases were reported the previous day. On October 14 (local time), the U.S. Department of Labor announced that September’s consumer prices rose 3.7% compared to the same month last year. Exceeding the market expectation of 3.6% and surpassing August’s 3.4% increase, inflation concerns grew, along with the likelihood of a U.S. benchmark interest rate hike.\u003C/p>\u003Cp>According to the CME FedWatch Tool, the probability of the Federal Reserve raising interest rates this month jumped from 22% the previous day to 37%. Fears of interest rate hikes dragged down the stock prices of AI companies that have taken on massive debt for AI (artificial intelligence) investments. Notably, AI cloud infrastructure companies CoreWeave and Nebius plummeted 15% and 10%, respectively. High interest burdens could hinder the profitability of AI investments.\u003C/p>\u003Cp>Semiconductor stocks also took a direct hit. Micron and Intel fell over 4%, while AMD and SanDisk dropped more than 5%. Kim Yoon-jung, an LS Securities researcher, said, “The Philadelphia Semiconductor Index fell 4.3%, and concerns over AI-related debt, centered around CoreWeave, have expanded,” adding, “The higher probability of interest rate hikes poses significant challenges for the sector.”\u003C/p>\u003Cp>TechFlow reports that on October 15, the South Korean KOSPI index fell by 7% according to\u003C/p>","https://www.techflowpost.com/en-US/newsletter/140014","https://www.techflowpost.com/favicon/twitter-image.png","[\"TechFlow\"]","[\"Bitget\",\"Market\"]","[{\"name\":\"Bitget\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/bitget.png\"},{\"name\":\"Market\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/market.png\"}]","647",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/techflow.png","TechFlow",null,"","[\"Finance\"]","0","EN","done","listing",1,true,"delisting","insert"]