From BigGo Finance · BigGo Finance · · 1m 20s
South Korea's Stocks Plunge as AI Fears Hit
South Korea's KOSPI drops 11.7% as one in three companies hit yearly lows.
In brief
South Korea's KOSPI drops 11.7% as one in three companies hit yearly lows. South Korea's KOSPI fell 11.71% and KOSDAQ dropped 11.06% last week, with 844 of 2,659 listed companies touching yearly lows. Originally reported by BigGo Finance.
Stock Market Collapse
South Korea's KOSPI fell 11.71% and KOSDAQ dropped 11.06% during the Nov. 2-6 trading week.
Record Number of Stocks at Yearly Lows
844 of 2,659 listed companies touched their lowest intraday price of the year.
Large Caps Hit New Lows
Hyundai Motor and Hanwha Aerospace sank to yearly lows, with Samsung Electronics and SK Hynix touching seven-month lows.
Brokerage Stocks Plunge
Mirae Asset Securities and Kiwoom Securities closed at yearly lows, with major securities firms' shares falling sharply.
KOSDAQ Stocks Decline
Alteogen, EcoPro, and Rainbow Robotics hit yearly lows, with semiconductor and biotech stocks also falling.
AI Regulation Concerns
Analysts link the selloff to fears that U.S. AI regulations could delay data center construction.
Market Experts' Views
Some analysts say the plunge signals a market bottom, while others warn of continued volatility.
What Happens Next
Stocks may rebound if AI investment plans are executed and U.S. regulations are detailed.
The takeaway
South Korea's KOSPI fell 11.71% and KOSDAQ dropped 11.06% last week, with 844 of 2,659 listed companies touching yearly lows.
