KOSPI Plunges 3.52% as AI Chip Fears Hit HBM Stocks, Why Did It Fall So Hard?

KOSPI -3.52%, KOSDAQ -3.62%.

Let's start with why KOSPI fell so hard.

On a confirmed close on October 22, it slid to the 5,500 level.

Both indexes were down more than 3%.

Retail investors:

"Why did it drop so much yesterday?"

The headline catalysts were concerns over AI chip demand and weakness in HBM-related stocks.

October 22 KOSPI: How Far Did It Fall? (Source: October 22, 2026 confirmed close)

KOSPI: 5,533.77 (-3.52%)

KOSDAQ: 764.10 (-3.62%)

KOSDAQ fell a bit more.

A news headline read 'Both indexes down over 3%, KOSPI at 5,500 level.'

Why Did KOSDAQ Crash? Was It Just Chips?

(Source: news headlines)

HBM-related stocks fell together: SK Hynix -5.72%, Hanmi Semiconductor -4.72%.

A headline noted Samsung Electronics also fell alongside SK Hynix.

Overnight headlines also reported that 'Nvidia and others fell on AI chip demand concerns.'

Physical AI and humanoid stocks were also reportedly under pressure.

Headlines alone make it hard to pin down the exact cause.

How Did US Markets Do Overnight? (Source: recent US trading sectors)

IT and semiconductors: +1.67%

Industrials: +0.91%

Financials: +0.57%

Consumer staples: -0.73%

Real estate: -0.76%

Communication services: -1.11%

On the latest trading day, IT and semiconductors rose.

The Nvidia headlines and the sector numbers point in different directions.

So it helps to look at individual stocks and sectors separately.

What to Watch at Today's Open

→ 1. Whether HBM-related names like SK Hynix and Hanmi Semiconductor start after yesterday's drop

→ 2. Whether KOSPI holds the 5,500 level

→ 3. Whether KOSDAQ moves in the same direction as KOSPI

On Polymarket, bets on a Fed rate hold after the October meeting stand at 94% for 'Yes.'

The rate-event burden reads as relatively low.

So, Up or Down?

Bearish side

• KOSPI, -3.52%, retreated to the 5,500 level
• SK Hynix, -5.72%, HBM names extended losses
• Nvidia, AI chip demand concern headlines

Bullish side

• US IT and semiconductors, +1.67%, strong overnight
• Fed hold expectations, Yes 94%, easing rate pressure
• Bitcoin ETFs, net inflows turned positive in October, risk appetite recovering

These are simply worth keeping in mind.

PickStock 💡

※ This article is for informational purposes only and is not investment advice.
※ Investment decisions and responsibility rest with the investor.
※ Figures are as of the time of writing and may change.

This article is for informational purposes only and is not investment advice.