local
Asian markets retreat, with Korean shares slumping despite an AI-led rebound on Wall St
By Elaine Kurtenbach, Associated Press at KSAT 12 (ABC affiliate)
· July 7, 2026
· 4 min read
Asian shares retreated Tuesday, with South Korea's Kospi sinking almost 5% despite a rebound for AI stocks that lifted benchmarks on Wall Street.Oil prices rose and U.S. futures were mixed. In Seoul, the Kospi dropped as much as 8% but recovered some losses to close 4.9% lower at 7,656.31. Shares...
Key takeaway In Seoul, the Kospi dropped as much as 8% but recovered some losses to close 4.
Why this matters in The San Antonio
San Antonio 's own thriving tech industry, with its growing presence of data centers and semiconductor manufacturing, is closely tied to the fluctuations in the global AI market. The recent slump in Asian shares, particularly in South Korean tech giants like Samsung Electronics and SK Hynix, may have implications for local businesses and investors. As SK Hynix prepares to raise $28 billion in a US stock offering, San Antonio's own business community will be watching closely to see how this move affects the global AI landscape and potentially, local economic development. The city's efforts to attract and retain tech companies, including those involved in AI and data centers, may be influenced by the market's response to SK Hynix's offering and the overall performance of AI stocks. Local investors and business leaders will be paying close attention to these developments, as they consider the potential risks and opportunities for San Antonio's own tech sector.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 7, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? Asian shares retreated Tuesday, with South Korea's Kospi sinking almost 5% despite a rebound for AI stocks that lifted benchmarks on Wall Street.Oil prices rose and U.S. futures were mixed. In Seoul, the Kospi dropped as much as 8% but recovered some losses to close 4.9% lower at 7,656.31. Shares...
When was this published? This article was first published on July 7, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Elaine Kurtenbach, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The San Antonio, or browse our daily briefing and topic hubs .
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