Crypto
Asian Equities Plummet Amid Chip Fears
The Asian equity market experienced a significant downturn on Tuesday, July 28, 2026, as semiconductor stocks plummeted due to concerns over China's growing chipmaking capabilities. The South Korea benchmark KOSPI index dropped nearly 11% and briefly triggered a trading halt, closing at 6,012.68.
The sell-off was led by heavy selling in chipmaking stocks, with Samsung Electronics sinking 13.4% and SK Hynix losing 9.7%. These two companies account for more than half of the KOSPI's market capitalization.
The weakness spread across the region, with Japan's Nikkei 225 falling 3.9% and Taiwan's Taiex losing 4.6%. The broader crypto market also felt the pressure, with Bitcoin down 2.8% and Ether losing 3.6% over the past 24 hours.