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Seoul Shares Tumble More Than 5% as Tech Selloff Extends to Fifth Session

Seoul's KOSPI fell 5.46% to 6,035.35 on Oct. 13, extending losses to a fifth session as technology and chip stocks slumped on renewed AI and inflation worries. The won weakened to 1,345.1 per dollar after foreigners sold a net 4.51 trillion won of local shares.

AI News Feed · 2026-10-13 16:41

After opening 3.1 percent lower, the benchmark Korea Composite Stock Price Index fell 348.89 points, or 5.46 percent, to 6,035.35. Foreign investors sold a net 4.51 trillion won (US$3.35 billion) worth of stocks, while institutions and individuals bought a net 1.69 trillion won and 2.23 trillion won, respectively.

The Korea Exchange triggered a sell-side sidecar during morning trading after the KOSPI fell more than 5 percent for at least one minute. Trade volume was moderate at 399.87 million shares worth 26.79 trillion won, with decliners outnumbering advancers 628 to 246.

Tech stocks led the decline. Han Ji-young, an analyst at Kiwoom Securities, said concerns over OpenAI's revenue and the completion of local chipmakers' share buybacks continued to weigh on technology shares.

Overnight, U.S. stocks closed mixed, with the Dow Jones Industrial Average rising 0.38 percent and the tech-heavy Nasdaq composite falling 0.44 percent. Chipmakers faced a deep slump after reports of rapid technological progress by Chinese rival ChangXin Memory Technologies.

In Seoul, Samsung Electronics fell 7.39 percent to 232,000 won, and SK hynix plunged 10.09 percent to 1.44 million won. Defense giant Hanwha Aerospace dropped 2.67 percent to 839,000 won, and top carmaker Hyundai Motor shed 1.56 percent to 315,000 won.

Among gainers, shipping firm HMM rose 1.15 percent to 22,050 won, and state-run utility Korea Electric Power Corp. climbed 2.1 percent to 29,150 won.

The won was quoted at 1,345.1 won per dollar at 3:30 p.m., compared with 1,335.1 won at the previous stock trading session's close. Foreign investors sold a net 4.5 trillion won of local shares, extending their sell-off to a sixth consecutive session. Bond prices closed higher. The yield on three-year Treasurys fell 6.4 basis points to 3.857 percent, and the return on five-year government bonds declined 7.1 basis points to 4.030 percent.

Investors are waiting for the U.S. consumer price index report due Wednesday U.S. time for clues on the Federal Reserve's policy outlook ahead of its October rate-setting meeting.

Editor's Summary

Seoul's benchmark KOSPI fell 5.46 percent on Oct. 13, its fifth straight decline, as chip and technology shares sold off on renewed AI and inflation worries. Foreign investors were net sellers of 4.51 trillion won, and the won weakened to 1,345.1 per dollar. U.S. inflation data and the Federal Reserve's October meeting are the next focus for markets.