South Korean stock market dropped 5% at one point, semiconductor stocks followed their American counterparts down.

The South Korean Kospi index fell by 5% at one point, marking its second consecutive day of decline following a drop in US chip stocks overnight. Stocks of South Korean companies such as SK Hynix, Samsung Electronics, and SK Square were among the biggest losers. The US chip stock index closed down by 2.2% on Thursday, with Micron Technology dropping by 7.7%. The smaller-cap Kosdaq index in South Korea also fell by 2.9% at one point. In early trading on Friday, the South Korean stock market saw the largest decline in Asia, with the MSCI Asia Pacific index falling by around 1%.