This photo, taken Monday, shows the trading room of Hana Bank in Seoul as South Korean stocks fell by more than four percent on AI concerns amid Middle East tensions. Photo by Yonhap
South Korean stocks closed more than 4 percent lower Monday, as artificial intelligence (AI) woes resurfaced amid escalating tensions in the Middle East. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) plunged 304.33 points, or 4.46 percent, to 6,516.27points, after falling as low as 6,472.80.
Trade volume was moderate at 339.5 million shares worth 28.4 trillion won (US$19.2 billion). Losers far outnumbered winners 796 to 97.
Institutional investors were net sellers, offloading 919.1 billion won. Foreigners and retail investors snapped up a combined net 864.4 billion won.
