The South Korean stock market suffered a sharp downturn on Thursday, with the KOSPI index dropping by 7.57 percent to close at 5,554.22. This substantial decline followed a trend of losses for major semiconductor manufacturers, driven by investor anxiety regarding the long-term viability of artificial intelligence investments and potential interest rate adjustments by the United States Federal Reserve. The index, which had already been on a seven-day losing streak, opened significantly lower and continued to slide throughout the trading session, reaching an intraday low of 5,450.81. Alongside the equity market slump, the Korean won also experienced depreciation against the US dollar, reflecting broader market instability and concerns over global economic conditions.
Source : The Korea Herald
Photo : The Korea Herald
