3 weeks ago
Seoul markets fall over 4% as tech shares drag
Imagine a giant scoreboard for South Korean companies called the stock market.
On Thursday, that scoreboard went down a lot — more than 4 percent.
The main reason was worries about technology companies and the money they spend on AI.
AI is a kind of computer brain that can learn, and building it costs a lot of money.
Some people are not sure those companies will earn enough from AI to cover that cost.
Earlier in the week, the scoreboard had gone up because those worries seemed smaller.
But on Thursday the worries came back, and big technology stocks pulled the whole market down.
To help calm things down, the exchange paused automatic computer trading for five minutes.
Even though the main index fell a lot, more stocks actually went up than down.
South Korean stocks tumbled more than 4% on Thursday, dragged down by losses in tech shares.
The KOSPI fell 4.58%, or 301.88 points, to close at 6,296.38 after touching an intraday low of 6,238.32.
The drop followed index gains of 1.62% and 3.76% on Tuesday and Wednesday as AI profitability worries had eased.
The bourse operator activated a sell-side sidecar for five minutes at 10:18 a.m., halting program trading in KOSPI-listed shares.
Trade volume was light at 281.8 million shares worth 25.9 trillion won ($18.2 billion), with 489 winners to 380 losers.
- Who
- Investors in South Korea's stock market; the bourse operator activated a sell-side sidecar.
- What
- The KOSPI fell more than 4% as tech share losses grew amid lingering concerns over AI spending profitability.
- Where
- Seoul, South Korea
- When
- Thursday
- Why
- Lingering concerns over the profitability of artificial intelligence spending weighed on technology shares.
Key facts
- Market
- KOSPI (Korea Composite Stock Price Index)
- Daily change
- -4.58% (-301.88 points)
- Closing level
- 6,296.38
- Intraday low
- 6,238.32
- Previous sessions
- +1.62% Tuesday, +3.76% Wednesday
- Sidecar
- Sell-side sidecar active for 5 minutes from 10:18 a.m.
- Trade volume
- 281.8 million shares worth 25.9 trillion won ($18.2 billion)
- Advancers vs decliners
- 489 winners to 380 losers








