The Kospi Index, the benchmark for the Korean stock market, once fell 3.6%, and chip stocks fell. Earlier, Federal Reserve Chairman Kevin Walsh made a hawkish speech and vowed to fight inflation. Samsung and SK Hynix were the biggest drag on the stock index, with both falling by more than 3%. Foreign investors net sold Kospi shares in early trading, while retail investors bought them. The Kosdaq small cap index once fell by 4%.

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