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Korean stock market index
The Korea Composite Stock Price Index is the index of all common stocks traded on the Stock Market Division—previously, Korea Stock Exchange—of the Korea Exchange. It is the representative stock market index of South Korea, analogous to the S&P 500 in the United States.
More on Wikipedia ↗South Korea’s stock market hit a rough patch on Thursday, with the benchmark Kospi plunging 7.49% as technology stocks came under heavy selling pressure. The rout spread across Asian markets, prompting the country’s exchange operator to trigger a five-minute trading halt on programme sell orders after a sharp drop in…
Asian markets plunged on Thursday, with KOSPI crashing nearly 8 percent and Nikkei falling about 5 percent, as hotter-than-expected US inflation fuelled Fed rate hike fears and triggered a global selloff in AI and semiconductor stocks.
Taking cues from the overnight rout in the US tech stocks, the chip makers like SK Hynix and Samsung Electronics faced selling pressure as the AI theme loses its shine amid overheated valuations in a rising borrowing costs scenario.