According to Yonhap, South Korea's benchmark KOSPI plunged 10.84% on Tuesday as investors dumped technology shares on growing doubts about the outlook for large-scale artificial intelligence infrastructure spending. The index lost 732.09 points to close at 6,023.66 after touching an intraday low of 5,830.39, and the bourse operator activated a marketwide circuit breaker at 10:14 a.m. to halt trading of KOSPI-listed shares for 20 minutes. It was the lowest close since April 14, when the KOSPI ended at 5,967.75.
The selloff followed overnight losses on Wall Street, where the PHLX chip index fell 2.2% amid skepticism over tech giants' heavy AI spending. Trading volume totaled 324.2 million shares worth 33.69 trillion won ($23 billion), with foreign investors net sellers of 4.97 trillion won. Samsung Electronics dropped 13.39% and SK hynix slid 14.65%, while Hyundai Motor fell 9.68% and Kia lost 6.6%. The Korean won strengthened to 1,462.5 against the U.S. dollar as of 3:30 p.m., up 6 won from the previous day. Bond prices rose, pushing the three-year Treasury yield down 3.6 basis points to 3.829% and the benchmark five-year government bond yield down 4.9 basis points to 4.068%.
KOSPI Crashes 10.84% As Tech Selloff Triggers Trading Halt
2026-07-28 07:39:35
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