Technology sector continues to bleed: KOSPI index fell more than 11%, oil prices rise

Technology sector continues to bleed: KOSPI index fell more than 11%, oil prices rise

The Seoul stock exchange index fell more than 11 percent on Wednesday, as the decline in technology sector company stocks, which has heavily affected the market in recent weeks, deepened further.

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Chip manufacturing giants SK hynix and Samsung stocks were particularly hit. The KOSPI index fell 11.4% to 5,338.56 points, SK hynix stock value dropped 18%, and Samsung – 12.5%.

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