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South Korea Kospi plunged more than 5 percent and temporarily halted program trading as the global AI chip rout reached Seoul.

Samsung and SK Hynix fell more than 4.5 percent before recovering as the Democratic US midterm sweep raised, then moderated, fears of binding AI and data-centre regulation.

SK hynix says DRAM and HBM are sold out through 2029 and Samsung says 2027 HBM is priced out, yet both stocks fell on AI spending fears despite record profits.

Semiconductor earnings account for almost all group operating profit, highlighting the widening gap between AI components and device profitability.