Business · Markets · 2 hrs ago
KOSPI falls below 5,400 as US chip shares slide and oil rises
South Korea’s KOSPI fell sharply in early trading on Oct.
23.
The index opened at 5,403.17, down 130.60 points, or 2.36%, from the previous close.
It slipped below the 5,400 mark and stood at 5,355.58 at 9:23 a.m.
local time.
The decline followed weakness in the previous session.
US AI and semiconductor shares dropped overnight, while international oil prices rose.
Those moves added pressure to South Korean shares.
The market was still falling in early trading, and no later outcome is given.
The KOSPI fell below 5,400 in early trading on October 23.
The index opened at 5,403.17, down 130.60 points, or 2.36%, from the previous session.
By 9:23 a.m., it had fallen to 5,355.58.
The decline followed a sharp fall in US artificial intelligence and semiconductor shares and a rise in international oil prices.
- Who
- The KOSPI, South Korea’s benchmark stock index.
- What
- It fell below 5,400 in early trading.
- When
- October 23; it stood at 5,355.58 at 9:23 a.m.
- Where
- South Korea’s stock market.
- Why
- US artificial intelligence and semiconductor shares fell sharply overnight, while international oil prices rose.
This story does not have two clearly opposing sides.
The KOSPI opened at 5,403.17, down 130.60 points, or 2.36%, from the previous session.
The KOSPI was at 5,355.58.
- Opening level
- 5,403.17
- Change at open
- Down 130.60 points, or 2.36%
- Level at 9:23 a.m.
- 5,355.58
- Market drivers
- Sharp falls in US AI and semiconductor shares; higher international oil prices