South Korea's Kospi plunges more than 8% as chipmakers slide, trading halted
South Korean stocks experienced a significant downturn on Friday, marking their steepest weekly decline in over three months. This slump was triggered by a sell-off in U.S. tech shares, prompting investors to cash in on recent gains. The Kospi index saw a sharp drop, even triggering a circuit breaker. Concerns over AI spending and who will bear the costs weighed heavily on the market, overshadowing positive demand signals.
South Korean stocks experienced a significant downturn on Friday, marking their steepest weekly decline in over three months. This slump was triggered by a sell-off in U.S. tech shares, prompting investors to cash in on recent gains. The Kospi index saw a sharp drop, even triggering a circuit breaker. Concerns over AI spending and who will bear the costs weighed heavily on the market, overshadowing positive demand signals.
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