Hong Kong storage-concept stocks experienced a sharp selloff, with CSOP 2x Long Hynix dropping over 22% and CSOP 2x Long Samsung Electronics falling more than 20%. Montage Technology declined over 9%, while GigaDevice slipped past 6% in broad sector weakness. The downturn followed significant losses in South Korean markets, where the KOSPI index fell 7%. Major chipmakers led the decline, with SK Hynix dropping 10% and Samsung Electronics falling nearly 8%, triggering synchronized selling pressure across regional storage-related equities.