South Korea's stock selloff deepened on a second day, driven by disappointment over SK Hynix's earnings. The initial decline began on the previous day and continued as tech stocks extended their drop.
Chip-makers extended losses during the session. According to some reports, the stock rout broke records, though this assessment comes from single sources.
Retail investors cut holdings in the wake of the downturn. Market observers attributed weakness in SK Hynix shares to excessive leverage by these individual investors.
Other factors cited for the share price weakness include fears of Chinese competition and a failure to live up to aggressive expectations. Despite the sell-off, some analysts remain bullish on SK Hynix.
In other markets, European shares edged up due to a boost from commodities, contrasting with the pressure on Asian tech stocks.