Chip stocks drag emerging market equities to April lows

Odaily Planet Daily News: The decline in Asian technology stocks has dragged the emerging markets benchmark index to its lowest level in three months, but a drop in oil prices helped European stocks and currencies avoid the sell-off. As of 4:00 PM Beijing time, the MSCI Emerging Markets Index fell 3.6%, marking its largest single-day drop since the end of June and hitting its weakest level since April.

On Tuesday, a series of trading halts hit the South Korean stock market, with weakness in chipmakers spreading across various sectors. South Korea's KOSPI index plunged nearly 11%, with Samsung Electronics and SK Hynix both seeing their stock prices fall over 13%. (Jin Shi)