Global Market Today: Asian stocks decline in break from US chip rally

October 20, 2026

Losses were led by a more than 2% drop in South Korea’s Kospi Index — a bellwether for artificial intelligence investments — as chip heavyweight SK Hynix Inc. headed for its lowest close since April. Data-center infrastructure company Elice Inc. plunged as much as 32% in its trading debut in Seoul.

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Elice, which raised 201.1 billion won ($150 million) in its IPO, provides AI cloud services as well as AI-based education and business software and plans

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Gold slipped in early Asian trade on Tuesday as investors awaited the US Federal Reserve policy decision next week for signals on interest rates and

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