Bourse operator issues circuit breaker for KOSPI on sharp fall
Korea's bourse operator on Tuesday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) on a sell-off in tech shares.
Trading of KOSPI-listed shares was halted for 20 minutes.
The Korea Exchange (KRX) triggered the marketwide circuit breaker at around 10:14 a.m. after the KOSPI plunged more than 8 percent from the previous session's close.
The benchmark index came under heavy selling pressure as investors sold off semiconductor shares on skepticism about tech giants' heavy spending on artificial intelligence (AI).
It marked the seventh time this year that the KRX has activated a circuit breaker.
KOSPI Crashes Over 10% in Chip Rout
- AI stock sell-off continues as investors dump chipmakers Financial Times —
- (2nd LD) Seoul shares crash over 10 pct on heavy tech selloff amid AI skepticism Yonhap News Agency —
- World shares are mixed, while South Korea’s Kospi sinks nearly 11% on heavy selling of chipmakers The Philadelphia Inquirer —
- Chip stocks are in freefall from Seoul to Wall Street. Amazon, Meta, and Microsoft report this week Quartz —
- Korean Stocks Sink as Chipmakers Plunge on Deepening AI Fatigue Bloomberg —