Woofun AI data shows that the Nikkei 225 index closed at 66,835.54 on Thursday, July 16, marking a decline of 1,915.97 points or 2.79%, with Kioxia shares dropping 14%.

Concurrently, South Korea's KOSPI index fell 466.06 points, or 6.4%, to close at 6,818.35, while the KOSDAQ index decreased by 4.5%. Key technology stocks faced significant pressure, as SK Hynix shares fell 11% and Samsung Electronics declined 8%. In response to market turbulence, South Korean authorities indicated they will soon announce measures to address controversies surrounding leveraged ETFs linked to Samsung Electronics and SK Hynix, which have amplified volatility.