Canlı piyasalar: Japonya'nın çöken yeni şirketleri Bitcoin ve XRP'ye itiyor

Korean stocks are in a technical bear market. Bitcoin is holding its ground again.

South Korea's Kospi has fallen about 20% from last month's peak — a figure considered to be a technical bear market in financial circles — as the AI-demand doubts that have whipsawed the index this month deepened.

The index dropped as much as 5.7% Wednesday, with SK Hynix falling 5% and Samsung losing 6.9%. Bitcoin traded near $62,650, down 0.6% on the day but still up 6.1% on the week, CoinDesk data show.

Korea's chip-heavy stock market, the best performer in the world earlier this year, has started to crack on concerns that hyperscalers' massive spending on AI isn't producing the returns to justify it, with worries over a possible glut of computing capacity.

The Kospi crashed 10% on June 22, slid again July 2, and has now given back most of a 116% year-to-date gain, trimmed to about 73%.

Samsung reported a 19-fold jump in quarterly profit this week on AI memory demand, and the stock fell anyway. Traders are demanding more proof to justify the money pouring into the AI supply chain, and Korea's concentration in two chipmakers plus leveraged ETFs that amplify moves has turned that doubt into outsized swings.

Bitcoin's relative calm fits the read that has held through the month. Crypto is caught in the same AI-driven risk complex, but its deeper, more liquid market has absorbed the macro pressure without the forced-deleveraging cascades hitting Korean equities.