KOSPI drops 4.77% as Alphabet earnings slump hits Samsung and SK Hynix

South Korea's KOSPI index fell 4.77% to 5,654.61 on Friday, dropping about 1.7 times harder than Japan's Nikkei. The decline was driven by Samsung Electronics and SK Hynix shares, which fell 6.25% and 8.91% respectively, following Alphabet's sharp drop after its capital spending more than doubled and missed cash flow expectations.