Investor sentiment toward technology stocks dampened as semiconductor shares dropped sharply amid growing caution over artificial intelligence investments. However, thanks to a steep drop in international oil prices and strong earnings from major corporations, capital flowed into traditional stocks, leading New York stocks to close mixed.
Heavy selling pressure emerged across the semiconductor sector, with the Philadelphia Semiconductor Index tumbling 4.5% due to growing caution over the sustainability of AI investments.
International crude oil prices (WTI) tumbled for a third consecutive trading day, dropping below $80 per barrel and contributing to improved investor sentiment.
Shares of Coca-Cola and Sherwin-Williams surged after reporting earnings surprises that beat market expectations.
A wait-and-see stance took hold ahead of the FOMC meeting outcome, driven by expectations of a Federal Reserve rate freeze and focus on future monetary policy direction.
Iran held talks with Saudi Arabian and Omani officials to resume maritime transport through the Strait of Hormuz.
Investor sentiment was severely dampened by concerns over an AI peak-out and weak semiconductor earnings, driving the stock market to a record decline. Compounding this, high-risk leveraged buying by retail investors further intensified market volatility and downside risk.
The KOSPI plunged due to AI peak-out concerns and competition from Chinese semiconductor manufacturers, recording its largest monthly percentage drop on record.
SK Hynix's second-quarter operating profit missed market expectations, sparking a sharp sell-off across large-cap semiconductor stocks.
Concentrated retail buying of single-stock leveraged semiconductor ETFs resulted in estimated losses of tens of trillions of won, causing market volatility to surge.
Fears of a breakdown in the memory semiconductor oligopoly escalated following reports of ChangXin Memory Technologies' IPO and successful localization of advanced DUV equipment.
Major brokerages cut target prices for Samsung Electronics and SK Hynix, reflecting forecasts of slowing memory average selling price (ASP) growth.
Hana Financial Group disclosed its Value-up 2.0 initiative aiming for a 50% total shareholder return ratio, prompting analysts to raise target prices.
