South Korea’s KOSPI stock index plunged 8%, triggering a circuit breaker, while Taiwan’s weighted stock index dropped below 42,000 points.

July 28, Asian stock markets fell sharply in sync: South Korea’s KOSPI plunged more than 8% intraday, triggering a circuit breaker that halted stock trading for 20 minutes; Taiwan’s weighted index fell more than 4%, slipping below 42,000 points, with an intraday decline of about 1,800 points; Japan’s Nikkei 225 tumbled about 2,700 points, with a decline of more than 4%. Bitcoin weakened in parallel but with a relatively smaller drop, to $63,258.

Taiwan Large-Cap Stock Drop Data: TSMC $2,270; MediaTek Down 6.39%

On July 28, the latest quotes for Taiwan’s major large-cap stocks are as follows:

TSMC (2330): 2,270 TWD, down 80 TWD (about -3%)

MediaTek: 3,445 TWD, down 235 TWD (-6.39%)

Delta Electronics: 1,655 TWD, down 100 TWD (-5.70%)

ASE Technology Holding: 575 TWD, down 33 TWD (-5.43%)

Foxconn (Hon Hai): 246.5 TWD, down 6.50 TWD (-2.57%)

What Triggered the Asian Stock Rout: Philadelphia Semiconductor Index Fell 2.2% the Night Before

The starting point of this selling pressure was the prior night’s U.S. stock market: the Philadelphia Semiconductor Index (SOX) fell 2.2%, and investors began questioning whether the tech giants’ massive capital expenditures on AI infrastructure could deliver commensurate returns. This concern spread along the semiconductor supply chain to Asian markets; the KOSPI triggered a circuit breaker again (multiple times since the beginning of this year), and both Taiwan and Japan stocks slid more than 4%.

FAQ

What was the decline in major Asian stock indexes on July 28?

According to the report, South Korea’s KOSPI fell more than 8% intraday, triggering a circuit breaker (halting stock trading for 20 minutes); Taiwan’s weighted index fell more than 4%, slipping below 42,000 points; and Japan’s Nikkei 225 plunged more than 4% (about 2,700 points).

What is the main reason for the Asian stock plunge this time?

The direct trigger was the 2.2% drop in the U.S. Philadelphia Semiconductor Index the night before. It was driven by investors questioning whether the capital spending by tech giants on large-scale AI infrastructure can translate into corresponding business returns; this concern then spread along the semiconductor supply chain to tech stocks in Taiwan, South Korea, and Japan.

How did Bitcoin perform during this Asian stock plunge?

At the time of writing, Bitcoin was at $63,258, down 3.06% over the past 24 hours; Ether was at $1,875.17, down 3.66%. Compared with the 4% to 8% declines in Asian stocks, Bitcoin’s drop was relatively smaller. Nansen senior research analyst Sondergaard said the market lacks strong buyers, and the downside target zone is looking toward $52,000 to $58,000.