South Korea’s KOSPI Falls 6.5% as AI Crypto Tokens Slide

South Korea’s KOSPI index fell 6.5% to about 6,002 on Oct. 13, while AI-linked crypto tokens declined as much as 10% as semiconductor stocks came under pressure. Investors sold shares after Chinese chipmaker CXMT announced a new memory-chip design. The development raised concerns about stronger competition for South Korean technology companies Samsung Electronics and SK Hynix. The equity-market decline spilled into crypto assets tied to artificial intelligence, extending the selloff beyond South Korea’s stock market. The move underscores the sensitivity of AI-related markets to shifts in the semiconductor industry, which supplies key components for computing and data-center infrastructure.