The Korea Composite Stock Price Index, or KOSPI, ended 4.6 percent lower, wiping out most of the gains from the previous two trading sessions. At one point during the session, it fell as much as 5.5 percent, as concerns over the sustainability and returns of AI investment resurfaced. Following sharp declines in SpaceX and semiconductor giant Advanced Micro Devices in the US market, Samsung Electronics dropped 6.3 percent and SK Hynix tumbled 10.4 percent in South Korea, with those two stocks accounting for more than half of the KOSPI index's move. Foreign investors were net sellers to the tune of 3.33 trillion won, equivalent to 2.34 billion dollars. Meanwhile, the S&P ASX 200 index in Sydney finished 0.5 percent higher at 9,271.60, after hitting an all-time high of 9,296.7 during the session. Caution over AI-related stock volatility drove funds toward the Australian market, which has a heavier weighting in defensive stocks, with bank and mining shares being bought.
SK Hynix Inc
Samsung Electronics Co Ltd