Chip stocks drag emerging market equities to April lows
2026-07-28 08:52
Odaily Planet Daily News The decline in Asian tech stocks has dragged the emerging market benchmark index to its lowest level in three months, but falling 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 drop since late June and hitting its weakest level since April.
On Tuesday, South Korea's stock market experienced a series of trading halts, with weakness in chipmakers spreading across various sectors. South Korea's KOSPI index plunged nearly 11%, while shares of Samsung Electronics and SK Hynix both fell more than 13%. (Jin Shi)
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