Chip stocks drag emerging market stocks to lowest level since April
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Chip stocks drag emerging market stocks to lowest level since April
The decline in Asian tech stocks pushed the emerging market benchmark index to a three-month low, but a retreat in oil prices helped shield European stocks and currencies from the sell-off. As of 16:00 Beijing time, the MSCI Emerging Markets Index fell 3.6%, marking its largest single-day decline since the end of June and dropping to its weakest level since April.
Navigating Web3 tides with focused insightsTechFlow news, July 28: The decline in Asian tech stocks pushed the emerging markets benchmark index to its lowest level in three months, but falling oil prices helped European stocks and currencies avoid the impact of the sell-off. As of 16:00 Beijing Time, the MSCI Emerging Markets Index fell 3.6%, marking the largest single-day decline since the end of June and dropping to the weakest level since April.
On Tuesday, the South Korean stock market experienced a series of trading halts, with weak sentiment from chipmakers spreading across sectors. The South Korea KOSPI Index plummeted nearly 11%, with share prices of Samsung Electronics and SK Hynix both falling more than 13%. (Jin10)
