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South Korea stocks hit 9-month low as US midterm results spark AI selloff
SEOUL: South Korean shares plunged to nine-month lows on Friday as Democrats’ win in the US midterm elections sparked a selloff in AI stocks, prompting policy measures to ease market volatility while investors cautiously assessed if market worries were excessive. The benchmark KOSPI index fell more than 8% in early trade to hit the lowest since February 6 at 4,911.28 and triggered a 20-minute circuit breaker at 9:03 a.m. (0003 GMT), temporarily halting all stock and derivatives trading, before cutting losses to trade down 3.9% at 5,174.84 as of 0230 GMT. “It is time for correction, but we feel...
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