Kospi Reverses 3.29% Rally as Lam Research Slides 6%
By Rick Steves
AI summary of the source article
South Korea’s Kospi dropped 3.52% on Thursday, reversing Wednesday's rally amid renewed declines in Samsung Electronics and SK hynix. The retreat followed after-hours share drops for Lam Research as investors weighed AI infrastructure spending against returns.
Why it matters
Lam’s results matter to the Korean market as a read-through on wafer-fabrication equipment demand and the capital spending of chipmakers.
Key facts
- The Kospi fell 201.89 points, or 3.52%, to 5,533.77, with Samsung Electronics down 4.02% and SK hynix down 5.48%.
- Lam Research posted revenue of $8.219 billion for the quarter ended September 27, up 54% year-over-year, but shares slid 6% to 7% after hours.
- Foreign investors net-sold approximately 17.4 trillion won of Kospi shares between October 1 and October 22.
Source excerpt · FinanceFeeds
South Korea’s Kospi gave back much of Wednesday’s rebound on Thursday, closing down 201.89 points, or 3.52%, at 5,533.77. Samsung Electronics fell 4.02% and SK hynix lost 5.48% as technology shares came under renewed pressure. The reversal followed a 3.29% rally in the previous session and came after Lam Research shares fell about 6% in after-hours trading despite quarterly revenue of $8.22 billio…