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TECNO Releases Film on '100 Portraits of Becoming' With Angélica DassIBM releases Granite Speech 5.0 2B and forecasting ensemble; China Telecom open-sources intent modelPerplexity and NVIDIA Researchers Introduce JOLT Post-Training MethodSeoul stocks slide 3.52% as AI investment concerns spur chip profit-takingOpenAI adds ChatGPT sidebar and cross-tab help to ChromeBOK Sees Chip Export Boom Lifting Private Consumption; Lee Urges Balanced Growth
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Seoul stocks slide 3.52% as AI investment concerns spur chip profit-taking

KOSPI falls 3.52% to 5,533.77 as chip profit-taking and AI investment concerns hit Seoul; the won strengthens.

AI News Feed · 2026-10-22 16:41

The index fell 201.8 points. It opened down 1.14 percent before briefly turning positive to reach an intraday high of 5,740.28, then resumed its decline and deepened losses sharply. The KOSPI had rebounded more than 3 percent in the previous session, recovering from steep losses as semiconductor shares rallied.

Overnight, U.S. stocks closed mixed as AI-related shares rebounded following SpaceX's quarterly results. The Dow Jones Industrial Average rose 0.69 percent, the S&P 500 gained 0.58 percent and the tech-heavy Nasdaq Composite advanced 1.05 percent. After delivering sound earnings, Meta Platforms boosted its bet on the AI sector.

"Although Meta and Tesla reported earnings that exceeded market expectations, their results failed to ease concerns over profitability amid massive AI investments," Lee Kyoung-min, an analyst at Daishin Securities, said. "The KOSPI's losses widened as the end of SK hynix's share buyback program reduced a source of support for market demand," he added.

Trade volume was light at 201.17 million shares worth 13.7 trillion won (US$10.4 billion), with decliners far outnumbering advancers 706 to 174. Foreigners and individuals bought a net 6.1 billion won and 38.1 billion won, respectively, while institutions offloaded a net 46.3 billion won.

Market heavyweights fell across the board, led by a sharp sell-off in technology shares. Market bellwether Samsung Electronics fell 4.03 percent to close at 214,500 won, while rival chipmaker SK hynix declined 5.49 percent to 1.22 million won. Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, went down 1.97 percent to 1.15 million won after opening higher on news of its partnership with Nvidia.

The Korean won was quoted at 1,324.2 won against the U.S. dollar as of 3:30 p.m., up 1 won from the previous stock trading session's close. Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 1.8 basis points to 3.840 percent, and the return on the benchmark five-year government bonds rose 1.9 basis points to 3.983 percent.