In early trading on 13 October, Japanese and South Korean stock markets were weak. KOSPI fell more than 4%, Japanese stocks were down about 2%, and technology stocks, led by SoftBank Group and Kioxia, fell sharply.
The Korea Composite Stock Price Index (KOSPI) was trading 4.37% below the previous day's level, while Japan's Nikkei Stock Average opened down 1.86% and extended its losses. Selling pressure intensified, particularly among semiconductor-related stocks.
As concerns spread over intensifying competition in the memory semiconductor market, China's memory manufacturer CXMT announced next-generation technology. This was cited as one factor behind the turmoil in semiconductor-related stocks.
U.S. markets were mixed following the previous day's moves, with the semiconductor sector leading the broader decline. U.S. stocks, particularly major memory stocks, posted pronounced losses and weighed on technology stocks overall.
Among individual stocks, Samsung Electronics in South Korea fell 4.59% and SK hynix fell 5.05%, while SanDisk and other stocks in the U.S. S-line also declined. Among Japanese technology stocks, SoftBank Group fell 6.79% and Kioxia fell 9.71%.