South Korean Shares Slide Nearly 3% as Tech Selloff Deepens; Won Strengthens
8 Articles
8 Articles
The KOSPI closed down more than 3% due to concerns over the profitability of the artificial intelligence industry. Major large-cap stocks, including Samsung Electronics and SK Hynix, plummeted as foreign and institutional investors continued their selling pressure. Overall investor sentiment in the domestic stock market has been dampened by a combination of factors, including the financial burden on U.S. big tech companies and political uncertai…
On the 3rd, the KOSPI plummeted more than 3%, falling into the 5,600s. According to the Korea Exchange, the KOSPI closed at 5,648.79 on the day, down 210.29 points (3.59%) from the previous trading day. The index fell 143.89 points (2
South Korean shares slide nearly 3% as tech selloff deepens; won strengthens
South Korean shares fell sharply as a global technology selloff dragged chipmakers and other heavyweight stocks lower. A stronger won and plunging oil prices offered little support as foreign investors continued to sell equities.
On the afternoon of November 3, the won/dollar exchange rate and the KOSPI and KOSDAQ indices are displayed on the electronic display board of the dealing room at Hana Bank's headquarters in Jung-gu, Seoul. (Yonhap) On November 3, the domestic stock market closed sharply lower, impacted by the plunge in AI-related Big Tech stocks in the U.S. market and the uncertainty surrounding the U.S. midterm elections. Failing to maintain the previous day'…
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