Kospi tumbles 6% as AI investors fear rally may be overblown. A bigger crash coming closer?

South Korea's KOSPI index tumbled 6.2 percent or 505 points to 7,546.10, triggering a programme trading curb amid concerns the AI-led rally may be overblown. Samsung Electronics dropped 7.47 percent and SK Hynix declined 6.70 percent, even as Samsung projected a 19-fold jump in second-quarter operating profit. Foreign investors were net sellers, offloading shares worth 1.3 trillion won, with fears of fading AI demand and rising competition from Chinese chipmakers driving a broad-based selloff.