Seoul shares plunge nearly 8% on tech sell-off amid renewed AI concerns

South Korean stocks dipped nearly 8 percent Thursday, dragged down by a sharp sell-off in semiconductor shares as investor sentiment soured amid renewed concerns over excess capacity.

The Korean won weakened against the US dollar.

The benchmark Korea Composite Stock Price Index plunged 655.32 points, or 7.89 percent, to close at 7,648.09. after falling as low as 7,616.33.

Due to the sharp drop, the bourse operator Korea Exchange activated a sell-side sidecar for the KOSPI around 9:07 a.m., halti ...