CoinTurk News EN and The National Business both report a South Korean chip stock sell-off after the US midterms but give different percentages for the stock and index declines.
What all sources agree on
- Asian markets showed a split reaction after the US midterm elections, with South Korean chip stocks selling off while Chinese internet stocks rallied.
- Tencent and Alibaba shares rose, lifting the Hang Seng Tech Index.
- Oil prices fell on expectations that a Democratic-controlled Congress could speed progress toward ending the Iran war.
- The US dollar weakened and US Treasury yields/bonds moved in investors' favor following the election results.
Where the reports disagree
1Percentage decline in Samsung and SK Hynix shares
Their stocks fell more than 7%, contributing to a 5.2% drop in South Korea's Kospi index.
South Korean chipmakers Samsung Electronics and SK Hynix each fell more than 5 per cent amid fears of tighter AI regulation under a Democrat-controlled Congress.
What would settle it: Closing price data for Samsung Electronics and SK Hynix shares from the Korea Exchange (KRX) for the trading session in question.
2Percentage decline in the Kospi index
contributing to a 5.2% drop in South Korea's Kospi index.
the Kospi Index in South Korea, a bellwether for the artificial intelligence trade in Asia, dropped 4.39 per cent.
What would settle it: Official closing value of the Kospi Index from the Korea Exchange (KRX) for the trading session in question.
What to make of it
Treat the broad direction of the story — a sell-off in South Korean chip stocks alongside gains in Tencent and Alibaba — as established, but do not cite a specific percentage for the Kospi or chipmaker declines until the exchange's own closing data is checked.
Treat the broad direction of the story — a sell-off in South Korean chip stocks alongside gains in Tencent and Alibaba — as established, but do not cite a specific percentage for the Kospi or chipmaker declines until the exchange's own closing data is checked.