Japanese and South Korean equities ended lower on July 16, according to Bitget market data, with chip and storage-related shares among the biggest decliners. Japan’s Nikkei 225 closed down 1,915.97 points, or 2.79%, at 66,835.54, while memory stock Kioxia fell 14%. In South Korea, the KOSPI closed down 466.06 points, or 6.4%, at 6,818.35. SK Hynix dropped 11% and Samsung Electronics lost 8%. South Korean authorities said they would soon announce measures to address controversy over leveraged ETFs tied to Samsung Electronics and SK Hynix shares, which they said had intensified stock-market volatility. The move puts a spotlight on how leveraged products linked to large-cap technology stocks can amplify swings in the broader market.
Japanese and South Korean stocks finished lower on July 16, according to Bitget market data, with storage and memory-related names taking steep losses.
Japan’s Nikkei 225 closed down 1,915.97 points, or 2.79%, at 66,835.54. Kioxia, a Japanese storage stock, slumped 14%.
In South Korea, the KOSPI closed down 466.06 points, or 6.4%, at 6,818.35. SK Hynix fell 11%, while Samsung Electronics lost 8%.
South Korean authorities said they would soon announce measures to address controversy over leveraged ETFs tied to Samsung Electronics and SK Hynix shares that had intensified stock-market volatility.
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