KOSPI Falls Below 6,700 on AI Growth, Oil, Rate Concerns

KOSPI falls below 6,700 on AI growth, oil, rate concerns

The KOSPI fell below 6,700 Monday as concerns over a possible slowdown in AI development triggered heavy foreign selling, with high oil prices and elevated interest rates adding to investor unease. The benchmark index closed at 6,684.37, down 3.26 percent from the previous session. It opened 3.14 percent lower and fell as much as 3.69 percent to 6,654.82 in mid-morning trading but slightly closed the gap. Foreign and institutional investors sold…

KOSPI Slides 3.26% to 6,684.37, Falling for Third Day

On the morning of Sept. 14, the won-dollar exchange rate, KOSPI and KOSDAQ indices are displayed on the electronic board at the dealing room of Hana Bank headquarters in Jung-gu, Seoul. (Yonhap) On Sept. 14, the domestic stock market closed with a sharp decline due to a contraction in risk asset preference following global macroeconomic uncertainty and surging international oil prices. Expanding its additional decline following last week’s close…

KOSPI Sinks 3.26% as Rate Fears, Oil Prices and AI Slowdown Worries Rattle South Korea's Chip Stocks

South Korea's KOSPI fell 3.26% for a third consecutive session, dragged lower by technology stocks as AI spending concerns, rising oil prices and US rate expectations weighed on investors.