How Korea's rate hike triggered a semiconductor selloff dragging Kospi down 6% — Market Wrap Jul 16, 2026

7horns.ai Daily Briefing EN · Jul 16, 2026 · 3m

Today's AI insights from 7horns.ai highlight a turbulent session in Asia as South Korea's Kospi plunged 6% following the Bank of Korea's rate hike to 2.75%. This monetary tightening sparked a severe semiconductor selloff, with Samsung Electronics tumbling 8.2% and SK Hynix plunging 11.2%. Japan's Nikkei also felt the pressure, dropping 3%, while Hong Kong's Hang Seng bucked the trend, rising 1.7%. In the US pre-market, tech giants showed a split reaction: Google and Microsoft gained 1.76% and 1.3% respectively, but Nvidia declined 1.53% amid semiconductor concerns. Apple stabilized with a…