South Korea's KOSPI plunges 11% on China chip competition fears

MarketsMajor tech stocks in Japan and Taiwan also fell sharply across the boardStock indexes were down across major Asian markets on July 28, following declines on Wall Street and fears over stiffer Chinese competition. (Photo by Ahn Seong-bok)JADA NAGUMO and AKANE OKUTSUJuly 28, 2026 11:27 JSTUpdated on July 28, 2026 16:55 JSTTOKYO -- South Korean and Japanese stocks dropped sharply Tuesday, following a sell-off in tech shares overnight on Wall Street brought on by concerns about the cost of large-scale investments and the rise of Chinese chipmakers.