South Korea's Kospi Plunges 3.73%, Erasing Two-Day Rebound
Foreign investors and institutions sold a net 1.5 trillion won as worries over AI investment hit chip shares and dragged Seoul stocks lower.
- South Korean shares plunged by nearly 4 percent on Tuesday, as concerns over investments in the AI-related value chain sparked a sell-off in major chip shares.
- Wall Street tech-centered sell-offs triggered the local decline, with the Dow Jones Industrial Average falling 0.34 percent and the Nasdaq Composite plunging 2.14 percent overnight.
- Market heavyweights led the decline: Samsung Electronics fell 2.98 percent to 211,500 won, while Samsung Electro-Mechanics dipped 1.28 percent as investors cashed in recent gains.
- Trading volume reached 16 trillion won , with decliners far outnumbering advancers 771 to 117 as institutions sold a net 1 trillion won.
- Investors remain cautious ahead of earnings reports from Tesla and Meta Platforms due this week; Daishin Securities analyst Lee Kyoung-min said "credit risks and profitability surrounding AI investment have yet to be fully resolved.
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Globes presents its first update on the state of markets around the world • And this morning: The Seoul Stock Exchange loses nearly 4%, led by chip stocks • Oil prices are recording slight increases, Brent crude is trading around $110 per barrel • Netflix reports will be published today, Meta and Tesla will report tomorrow • Also: Meitav's chief economist writes in his weekly review - Technology stocks have completely disconnected from other sec…
The Economic Times
Times of IndiaGlobal Market: South Korean shares fall as AI investment worries weigh on chipmakers
South Koreas Kospi fell as AI investment concerns triggered technology stock selling, although dip buying helped recover early losses. Semiconductor shares remained weak, while automakers, battery makers and select heavyweight stocks gained. Foreign investors were net sellers, while currency and bond markets showed mixed movements amid ongoing global market uncertainty.
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