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The South Korean benchmark Kospi suffered the worst day of the year as chip stocks tumbled, mirroring a rout in US semiconductor stocks on Wall Street. Soon after opening 1.38 percent lower at 8,048.09, selling accelerated, pushing the index below the 8,000 mark. The index later recouped some of its losses in afternoon trading but was still down 5.18 percent at 7,737.63 as of 1:30 p.m. A circuit breaker was triggered at 9:03 a.m., halting program trading for 20 minutes. The measure was activated

The Korea Herald

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Kospi slides 8% on US chip sell-off

The South Korean benchmark Kospi plunged more than 8 percent Monday, mirroring a rout in US semiconductor stocks on Wall Street, which triggered a circuit breaker. The Kospi opened 1.38 percent lower at 8,048.09. Soon after the opening bell, selling accelerated, pushing the index below the 8,000 mark. It stood at 7,477.46, down 8.37 percent, as of 9:12 a.m. A circuit breaker was triggered, halting program trading for 20 minutes after the benchmark index plunged more than 8 percent. Foreign inves

The Korea Herald

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Foreign selling drags Kospi down 5%, sends won to 17-year low

Heavy foreign selling rattled South Korean markets on Friday, dragging the benchmark Kospi down more than 5 percent and driving the won to a 17-year low against the greenback. The Kospi closed down 5.54 percent at 8,160.59 on the day. The benchmark index opened sharply lower, tracking an overnight decline in US semiconductor stocks after Broadcom projected third-quarter AI-related revenue of $16 billion, falling short of market expectations. It fell as much as 6 percent in early trading to 8,038

The Korea Herald

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Kospi plunges 5% on US chip stock rout

South Korea's benchmark Kospi tumbled more than 5 percent in early trading Friday, tracking a sharp selloff in semiconductor stocks on Wall Street after Broadcom's earnings and outlook disappointed investors. The Kospi opened at 8,323.2, down 3.66 percent from the previous session. Losses deepened shortly after the opening bell, with the index falling to 8,190.25 as of 9:15 a.m., down 5.2 percent on-session. The decline pushed the benchmark below the 8,100 mark during trading. A sell-side sideca

The Korea Herald

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Seoul shares close at new high on tech rally amid AI optimism

South Korean stocks extended a rally to a fresh all-time high Monday, driven by strong gains in stocks related to artificial intelligence. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 311.85 points, or 3.68 percent, to close at 8,788.38, after hitting a new intraday high of 8,874.16. The index opened at a record high and extended its gains, prompting the Korea Exchange to activate a buy-side sidecar, which suspended program trading of Kospi

The Korea Herald

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Kospi snaps 4-day winning streak on AI rally pause, renewed Iran tensions

South Korean stocks snapped their four-day winning streak Thursday as artificial intelligence-related shares took a breather following their recent rally and on renewed tensions between the United States and Iran. The benchmark Korea Composite Stock Price Index fell 43.41 points, or 0.53 percent, to close at 8,185.29, after dipping as low as 7,841.01. The index closed at a record high of 8,288.7 on Wednesday, extending its winning streak to the fourth consecutive session on the back of a strong

The Korea Herald

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Kospi opens lower amid AI rally pause, mixed US-Iran signals

South Korean stocks opened lower Thursday as a rally led by artificial intelligence took a breather as tensions increased again on news that US launched fresh strikes against Iran. The benchmark Korea Composite Stock Price Index fell 113.09 points, or 1.37 percent, to 8,115.61 in the first 15 minutes of trading. The index closed at a record high of 8,288.7 on Wednesday, extending its winning streak to the fourth consecutive session on the back of a strong rally led by major semiconductor shares,

The Korea Herald

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Korea’s chip-driven rally fuels global ETF appetite

Hong Kong's CSOP Asset Management is preparing to roll out more exchange-traded funds tracking South Korean equities later this year, as a relentless rally in Seoul fuels global demand for exposure to Asia's best-performing major market. CSOP is working to list an ETF tracking the Kospi 200 index on the Hong Kong Stock Exchange in the second half of this year, industry reports showed Sunday. The product would mark the first overseas-listed ETF tracking Korea's blue-chip index, giving offshore in

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