Asian markets tumble as tech sell-off deepens; South Korea's Kospi halts trading
By
Osmond Chia
2h ago· 2 min readenNews
Summary
Asian stock markets experienced a sharp decline on Friday, led by a tech sector sell-off. South Korea's Kospi index fell 8% triggering a trading halt mechanism, and closed 5.8% lower. The downturn follows Apple's announcement of price increases for iPads and MacBooks due to rising chip costs, and broader investor concerns about excessive spending by big tech companies.
Source
bskyAsian markets tumble as tech sell-off deepens; South Korea's Kospi halts tradingbbc.co.ukKey quotes
· 3 pulledAsian stock markets fell sharply on Friday, led by a sell-off in technology firms as investors worried that recent jumps in share prices had gone too far.
Trading on South Korea's Kospi was temporarily halted as an 8% fall in the benchmark index triggered a mechanism intended to curb panic selling.
Shares in Apple fell sharply on Thursday after it announced it would raise the prices of its iPads and MacBooks due to the soaring cost of computer chips.
Trading on South Korea's Kospi index was halted for the third time this week to prevent panic selling.
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