KOSPI sinks to a 7-month low as chip earnings and the Fed loom
Korean stocks slid as investors waited on chip earnings and a Federal Reserve decision, while the won's nominal effective rate climbed to a two-year high. Samsung and SK hynix drew attention over shareholder returns ahead of third-quarter results, and Netflix marked a decade in Korea.
Markets & chips
KOSPI
Seoul's main index has been under pressure all session, with brokerages flagging more downside risk as investors hold back before major earnings and a Fed decision.
The index closed in the 5,400 range, its lowest level in seven months, as investors stayed cautious ahead of chip earnings.
Securities firms cautioned that the index could fall further.
Korean won
The won's nominal effective exchange rate climbed to its highest level in two years.
Samsung Electronics
Samsung heads into its third-quarter report with shareholder return policy in the spotlight, alongside signs of a shift in the high-bandwidth memory race.
The company is applying AI to shorten the time needed to develop chip materials.
Analysis indicates Samsung may have pulled ahead of SK hynix in high-bandwidth memory revenue.
Investors are watching the two chipmakers' payout plans as third-quarter results approach.
SK hynix
The chipmaker is reportedly considering a special dividend of $12.1 billion.
The company is set to disclose its shareholder return plan as speculation centers on a 16 trillion won special dividend.
Business of culture
Netflix in Korea
The Netflix chief marked the service's ten-year anniversary in Korea.
K-drama, film, webtoons & streaming
The hit drama is facing demands that its broadcast be stopped over an episode set in Gwangju.
K-pop agencies
The whisky brand signed the BLACKPINK singer as a brand partner.
The virtual group Plave is continuing a steady climb.
Self-produced content has become a key asset for K-pop acts.