Seoul stocks fall over 5 pct on tech losses amid AI concerns
Briefing by News4U · First published
Yonhap Business reported that South Korean stocks sank more than 5 percent late Friday morning, led by heavy losses in technology shares amid renewed concerns over the sustainability of the artificial intelligence boom. After opening 2.99 percent lower, the benchmark KOSPI extended its losses, falling 311.84 points, or 5.25 percent, to 5,626.02 as of 11:20 a.m. The sell-off followed overnight losses on Wall Street, where concerns over lofty AI-related valuations dampened investor sentiment. As the market extended its decline, the Korea Exchange triggered a sell-side sidecar to suspend program trading for the KOSPI-listed shares for five minutes shortly after 10 a.m. [1]
Sources
- Seoul stocks down over 5 pct late Fri. morning on tech losses amid AI concerns
Yonhap Business · · Full text