chip stocks drag emerging market stocks to lowest point since April

Odaily Planet Daily News The decline in Asian technology stocks has pushed the emerging market benchmark index to its lowest level in three months, but a drop in oil prices helped European stocks and currencies avoid being affected by the sell-off. As of 16:00 Beijing time, the MSCI Emerging Markets Index fell by 3.6%, marking the largest single-day drop since the end of June and also falling to its weakest level since April.

On Tuesday, the South Korean stock market experienced a series of trading halts, with weakness in chipmakers spreading to various industries. The KOSPI index plummeted nearly 11%, with shares of Samsung Electronics and SK Hynix both falling more than 13%. (Jin Shi)