South Korean Shares Slide 2.14% as AI Stock Selloff Spreads

South Korea’s KOSPI fell 118.59 points, or 2.14%, to 5,415.18 at 01:38 GMT on Friday, October 23, leaving the benchmark on course for a second straight weekly decline. The Economic Times Markets, carrying Reuters reporting, linked the losses to a global retreat from artificial intelligence-related shares. The Nasdaq had fallen more than 1% on Thursday as earnings from Tesla and Meta failed to allay investors’ AI concerns; recovering oil prices added to the uncertainty. These figures are a source-reported intraday snapshot, not closing prices or a live market service.

Selling extended across chipmakers, carmakers and steel. Samsung Electronics lost 2.80%, SK Hynix slipped 0.57% and LG Energy Solution declined 1.79%. Hyundai Motor dropped 3.81%, Kia fell 2.85% and POSCO Holdings shed 3.50%. Samsung BioLogics moved against the market, gaining 6.47%. Among 912 traded issues, 793 declined and 95 advanced, while foreign investors sold a net 589.3 billion won of South Korean shares.

The currency and bond markets moved in the opposite direction to equities. The won strengthened 0.29% onshore to 1,322.6 per dollar, compared with its previous close of 1,326.5. The most liquid three-year Korean Treasury bond yield fell 6.6 basis points to 3.774%, while the benchmark 10-year yield dropped 7.1 basis points to 4.073%. Despite the latest equity losses, the KOSPI remained up 28.50% for the year, and the won had gained 8.8% against the dollar.