The KOSPI fell below 6,700 Monday as worries about slowing AI development, high oil prices and elevated interest rates sparked heavy foreign selling. The benchmark index closed at 6,684.37, down 3.26 percent. SK hynix and Samsung Electronics both fell sharply, while bank stocks rose. The Kosdaq also declined, and the Korea Exchange began an after-hours market from 4 p.m. to 8 p.m.
KOSPI is displayed in the dealing room of Hana Bank in Seoul, Monday. The benchmark index closed at 6,684.37, down 3.26 percent from the previous session. Yonhap
The KOSPI fell below 6,700 Monday as concerns over a possible slowdown in AI development triggered heavy foreign selling, with high oil prices and elevated interest rates adding to investor unease.
The benchmark index closed at 6,684.37, down 3.26 percent from the previous session. It opened 3.14 percent lower and fell as much as 3.69 percent to 6,654.82 in mid-morning trading but slightly closed the gap.
Foreign and institutional investors sold a net 3.29 trillion won ($2.4 billion) and 1.17 trillion won worth of shares, respectively, while retail investors bought a net 2.97 trillion won.
