South Korea's Kospi share index falls nearly 7%, other Asian shares also mostly lower

South Korea’s Kospi share index dropped nearly 7% on Wednesday on prolonged selling of chipmaking shares.

The latest rout was led by a plunge in shares in chipmaker SK Hynix after its profit in the last quarter fell short of analysts’ forecasts even though it soared.

SK Hynix sank about 10% while shares in Samsung Electronics dropped more than 5%.