CONNECT WITH US
AI & Deeptech

AI & Deeptech

South Korean shares post more than 6-month closing low as chipmakers fall on AI concerns

IndiaTimes (ET) - AI logo

Published on

Add as a preferred source on Google
South Korean shares post more than 6-month closing low as chipmakers fall on AI concerns

Business News Tech AI South Korean shares post more than 6-month closing low as chipmakers fall on AI concerns

South Korean shares post more than 6-month closing low as chipmakers fall on AI concerns

"The sustainability of the recent rebound was limited as credit and profitability concerns around AI investment remained not fully resolved," said Lee Kyoung-min, an analyst at Daishin Securities.

SEOUL, - Round-up of South Korean financial markets: ** South Korean shares fell more than 3% on Tuesday to post their lowest close in more than 6 months, as chipmakers dropped on concerns over the global AI investment boom. ** The benchmark KOSPI ended down 215.27 points, or 3.73%, at 5,552.74, after rebounding for two consecutive sessions, and marked its lowest closing level since April 7.

** "The sustainability of the recent rebound was limited as credit and profitability concerns around AI investment remained not fully resolved," said Lee Kyoung-min, an analyst at Daishin Securities. ** The Bank of Korea will keep its key policy rate unchanged on Thursday after two consecutive increases but is expected to raise borrowing costs once more next month, a Reuters poll of economists found, as inflation remains above target and growth remains firm. 23%. 10%, respectively. 52%. ** AI infrastructure firm Elice Group plunged more than 30% in its market debut. ** Of the total 915 traded issues, 118 shares advanced, while 773 declined. 58 million). 1. 01. 188%.



Source link
Related Topics:AI & Deeptech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.