Bitcoin fell to $80,154 as the South Korean KOSPI index hit its lowest close since April amid a broader tech sell-off and rising US inflation concerns.
The KOSPI index dropped 7.28% following higher-than-expected US inflation data and growing skepticism regarding the AI sector.
The South Korean KOSPI index fell by 5.46% on October 13, triggered by a massive sell-off of semiconductor stocks following reports of technological advancements by China's CXMT.
South Korea's KOSPI index fell nearly 5% as progress by Chinese chipmaker CXMT raised concerns about the market dominance of Samsung and SK Hynix.
Individual investors in South Korea purchased $1.6 billion in stocks on Monday, moving against the trend set by foreign and institutional sellers as the KOSPI index fell.
South Korean retail investors lost $250 million to fraud in the first half of 2026, a 19.8% increase driven by stock tip chatrooms amid high market volatility.
The Bank of Korea reports record volatility for the KOSPI index, driven by heavy semiconductor concentration and leveraged ETF activity.
South Korean chipmakers Samsung and SK Hynix led a rally in the Kospi index amid AI earnings expectations, contrasting with negative US market futures.
Goldman Sachs strategist Timothy Moe maintains a 12,000 target for the KOSPI index, betting that earnings growth and increased US tech spending will drive a 74% recovery.
