🚨SOUTH KOREA'S BEAR MARKET IS INTENSIFYING: The KOSPI fell as much as -6.4% intraday on Wednesday before closing down -5.8%, triggering a "sidecar" trading halt on program selling and marking its 2nd consecutive daily decline. SK Hynix and Samsung Electronics fell -9.8% and -7.8%, respectively, among the biggest drags on the index. The KOSPI is now down -30% from its June peak, while SK Hynix and Samsung are down -49% and -34%, respectively. The selloff followed a similar rout on Wall Street, where the Philadelphia Semiconductor Index plunged -5.6% on Tuesday, its worst session since early July, as rising bond yields and inflation concerns weighed on expensive AI names. Meanwhile, the Bloomberg Asian chip index remains down -19% from its June record high, even after a recent rebound attempt. Korea’s market selloff resumes after a brief pause.