Kospi plunges 5% on US chip stock rout

South Korea's benchmark Kospi tumbled more than 5 percent in early trading Friday, tracking a sharp selloff in semiconductor stocks on Wall Street after Broadcom's earnings and outlook disappointed investors.

The Kospi opened at 8,323.2, down 3.66 percent from the previous session.

Losses deepened shortly after the opening bell, with the index falling to 8,190.25 as of 9:15 a.m., down 5.2 percent on-session.

The decline pushed the benchmark below the 8,100 mark during trading.

A sell-side sideca ...