South Korea KOSPI falls 1.9% on AI and chip worries
Business
South Korea's KOSPI index dropped 1.9% on Tuesday, wiping out early gains as fears over heavy AI infrastructure spending and a sell-off in semiconductor stocks took hold.
Tech giants like Samsung Electronics and SK Hynix saw their shares fall 3.76% and 3.70%, respectively, showing just how much investor nerves are shaping the market right now.
Hyundai Motor and Kia shares slip
The sell-off didn't stop at tech: Hyundai Motor and Kia also slipped, down 3.69% and 1.85%.
Interestingly, foreign investors kept buying, picking up 249.4 billion won ($174.93 million) in shares.
Inflation cooled off a bit too (down to 2.8% in July), but that wasn't enough to lift the mood with all the uncertainty around AI spending and chip stocks still hanging over the market.