South Korea’s KOSPI crashes 11% as China chip threat grows

South Korea’s main stock index, the KOSPI, plunged 11% in a single trading session on Monday. The sharp sell-off was driven by growing fears that Chinese chipmakers are catching up to South Korean rivals. Investors worried that increased competition from China will hurt profits for major South Korean semiconductor companies like Samsung and SK Hynix. The drop marked one of the worst single-day losses for the index in recent years. Analysts say the market reaction reflects deep concern over South Korea’s heavy reliance on chip exports. The technology sector, which dominates the KOSPI, was hit hardest.