The South Korean stock market fell from record highs as the rally in chip stocks was halted.

The South Korean stock market Kospi index fell by 1.1% in early trading on Wednesday, after rising for 11 consecutive trading days, with the momentum of chip stocks being hindered. Kospi is one of the best-performing stock indices globally this year, closing at a historic high on Tuesday and setting a record for the longest consecutive rise in six years. In early trading on Wednesday, Samsung Electronics and SK Hynix were the biggest drag on the Kospi index; SK Hynix fell by 3.2% after rising for 11 consecutive days. Seo Sang-Young, a future asset securities strategist, stated that President Trump's comments overnight suggesting higher tariffs on imported chips and drugs than on cars could potentially impact South Korean semiconductor manufacturers.