South Korean memory chipmakers Samsung Electronics and SK Hynix saw their shares plunge more than 7% on August 3, dragging the Kospi down 5% and the MSCI emerging markets index lower by 1.1%. These two companies, which collectively produce roughly two-thirds of the world’s memory chips, had surged 17% the previous session, with SK Hynix gaining 28.4% and Samsung 23.7% in a single day. Bitcoin remained steady around $64,000, unmoved by the volatility in South Korean tech stocks. This sector concentration creates significant risk for emerging-market indices, as a debate specific to AI spending can move the entire asset class.
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