South Korea’s Kospi tanks 8% despite US-Iran war optimism. Here are 4 reasons why
South Korean stocks were hammered on Tuesday as a global sell-off in chipmakers sent technology heavyweights sharply lower, with rising competition from China and a steep fall in SK Hynix's US-listed shares weighing heavily on investor sentiment.The benchmark Kospi plunged 551 points, or 8.1%, to 6,2505. The steep decline triggered "sidecar" trading curbs on both the Kospi and the junior Kosdaq index, temporarily halting programme trading.Memory-chip maker SK Hynix dropped 11% after its American depositary receipts (ADRs) in New York fell to a record low and slipped below their initial US offe