Kospi Circuit Breaker Triggers as China DUV Challenges ASML
South Korea's Kospi index hit a circuit breaker amid a sharp sell-off, while Chinese advances in DUV lithography threaten ASML's market dominance. Investors also await SK Hynix earnings and the Fed decision.
South Korea's Kospi index plunged sufficiently to trigger a circuit breaker during European mid-market trading, signaling intense selling pressure. No exact drop percentage was given in the update.
Meanwhile, emerging Chinese deep ultraviolet (DUV) technology is seen as a direct threat to ASML's longstanding moat in the semiconductor equipment industry. Specifics on the Chinese breakthrough were not provided.
SK Hynix is set to report earnings tomorrow, adding to a busy corporate calendar. Markets are also bracing for the Federal Reserve's impending policy announcement, keeping sentiment cautious.
Source: FXStreet Forex News