A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the KOSPI index and won-dollar exchange rate, Thursday. Yonhap
Korean stocks were trading lower late Thursday morning amid continuing volatility surrounding major technology shares and concerns over escalating tensions between the United States and Iran.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) had fallen 124.91 points, or 1.62 percent, to 7,605.91 as of 11:20 a.m. The index had started nearly 3 percent lower.
Overnight, the Dow Jones Industrial Average closed 1.87 percent lower, the S&P 500 fell 1.62 percent, and the tech-heavy Nasdaq composite shed 1.98 percent, as investors unloaded tech shares as woes brewed over the high valuation of artificial intelligence (AI) stocks.
AI chip giant Nvidia dipped 3.73 percent, Broadcom slid 5.12 percent, Super Micro Computer tumbled 28 percent, and AMD dropped 4.86 percent.
