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South Korea's KOSPI craters nearly 9% as Fed fears hammer tech stocks
South Korea's KOSPI craters over 8% as Fed fears spark tech rout SEOUL, June 8 : South Korea's stock benchmark plunged over 8 per cent on Monday, tripping circuit breakers, after robust U.S. jobs data lifted bets on a Federal Reserve rate hike and unleashed a selloff in the tech‑heavy market that had powered the broader AI rally. The KOSPI fell 8.3 per cent to close at 7,484.41, marking its biggest daily fall since March 4. The index is now 15 per cent below the peak of 8,801.49 hit on June 2.
Foreign investors have dumped billions of dollars of Korean stocks this year despite record rally. Here's why
Foreign investors have dumped billions of dollars' worth of South Korean stocks this year, even as the Kospi has emerged as one of the world's standout performers thus far, with record year-to-date gains. On Monday, overseas investors had unloaded a net 1.24 trillion won (about $801 million) worth of Kospi-listed shares as of 11am Singapore time (11p.m. ET Sunday), according to Korea Exchange data. "Foreign investors continued to sell the Kospi market, driven by outflows for Kospi Tech and...
Seoul leads steep Asian losses as AI-led tech rally hits wall
Seoul leads steep Asian losses as AI-led tech rally hits wall HONG KONG: Seoul's Kospi stock index dived more than eight per cent to lead a rout across Asia on Monday (Jun 8) as tech firms were hammered and strong US jobs data fuelled bets on a Federal Reserve interest rate hike. News that Iran and Israel had struck each other sparked worries about an escalation of the Middle East crisis, adding to the gloomy mood on trading floors and sending oil prices surging more than three per cent.
Stocks are recovering from a sell-off — but even bullish investors warn of a bumpy ride ahead
Global stock markets edged higher on Tuesday, marking a tentative recovery from a bout of volatility led by an aggressive sell-off in global technology names. Friday saw U.S. equities come under pressure, led by a sharp downward turn in chip stocks. The negative momentum bled into Asian trade, while European tech stocks also took a beating.
Stocks drop as US-Iran peace talks stall, AI rally cools
Stocks drop as US-Iran peace talks stall, AI rally cools LONDON, June 5 : Shares slid on Friday as investors turned defensive ahead of the weekend, wary of the flare-up in Middle East hostilities with U.S.-Iran peace talks in limbo. The Iran-backed Hezbollah militia rejected a new ceasefire in Lebanon on Thursday and Israel said it would not withdraw troops from the country, undermining U.S. President Donald Trump's efforts to halt fighting there and reach a peace deal with Tehran....
Asian stocks slide, oil gains as Middle East tensions escalate
Asian stocks slide, oil gains as Middle East tensions escalate The United States launched strikes against Iran after President Donald Trump said Tehran had shot down a US Apache helicopter in the Strait of Hormuz, leaving investors on edge. SINGAPORE: Asian stocks fell on Wednesday (Jun 10) while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end to the months-long war that has pushed commodities higher and stoked inflation worries. The...
Asia tech stocks extend sell-off with SoftBank down over 7% as investors sour on AI-linked names
Asian tech stocks extended their sell-off Monday, as investors sour on global AI-linked plays with the U.S. tech-heavy Nasdaq declining more than 4.5% last week. Memory chip behemoths and heavyweights on South Korea's Kospi Index Samsung Electronics and SK Hynix fell 5% and 2%, respectively. The Kospi plunged as much as 8% as the two companies make up over 40% of the index.
Chip, chip ... boom? South Korea tech makers join the trillion-dollar club but some fear a short-circuit looms
South Korea’s Kospi stock market has hit record highs thanks to AI, but experts urge caution over boom-bust cycles and a heavy reliance on two chipmakersSouth Korea has leapfrogged India to become the world’s sixth largest share market, leaving equity markets in the UK, Germany and France trailing in its dust. But despite the runaway success, some are raising concerns that the Kospi index is too dependent on two freshly minted trillion-dollar chipmaking companies. Chip company SK Hynix last...
Chip, chip ... boom? South Korea tech makers join the trillion-dollar club but some fear a short-circuit looms
South Korea’s Kospi stock market has hit record highs thanks to AI, but experts urge caution over boom-bust cycles and a heavy reliance on two chipmakersSouth Korea has leapfrogged India to become the world’s sixth largest share market, leaving equity markets in the UK, Germany and France trailing in its dust. But despite the runaway success, some are raising concerns that the Kospi index is too dependent on two freshly minted trillion-dollar chipmaking companies. Chip company SK Hynix last...
Chip, chip ... boom? South Korea tech makers join the trillion-dollar club but some fear a short-circuit looms
South Korea’s Kospi stock market has hit record highs thanks to AI, but experts urge caution over boom-bust cycles and a heavy reliance on two chipmakersSouth Korea has leapfrogged India to become the world’s sixth largest share market, leaving equity markets in the UK, Germany and France trailing in its dust. But despite the runaway success, some are raising concerns that the Kospi index is too dependent on two freshly minted trillion-dollar chipmaking companies. Chip company SK Hynix last...