{
  "id": 17932445,
  "title": "(2nd LD) Seoul shares dip over 3 pct amid escalating AI woes",
  "url": "https://urgent.news/2026/11/03/2nd-ld-seoul-shares-dip-over-3-pct-amid-escalating-ai-woes",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-03T07:30:11.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20261103007952320"
  },
  "original_language": "en",
  "account": "South Korean stocks saw a significant decline of over 3 percent on Tuesday due to heavy sell-offs in the tech sector, primarily driven by concerns over massive artificial intelligence (AI) spending. The benchmark Korea Composite Stock Price Index (KOSPI) fell to 5,648.79, down 3.59 percent from its opening level. Trade volume was relatively light, with 192.4 million shares changing hands, amounting to 14.1 trillion won ($10.5 billion) in value. Decliners outnumbered gainers by a ratio of 656 to 220. Foreign investors and institutions were net sellers, offloading a combined net of 2.011 trillion won, while domestic investors bought a net of 1.7 trillion won. Wall Street's tech and AI-related shares remained volatile, contributing to the Nasdaq Composite's 1.07 percent decline and the S&P 500's 0.51 percent drop. The PHLX chip index also experienced a 3.4 percent loss, following a 7.2 percent plunge on Friday. Analysts expressed doubts about the profitability of excessive AI infrastructure spending, citing recent disappointing earnings reports from some global tech companies. Kim Seok-hwan, an analyst at Mirae Asset Securities, noted persistent concerns about the profitability of AI investments. The sharp decline in chip shares on the U.S. stock market on the first trading day of November further weighed on the Korean market, with semiconductor shares suffering the most significant losses. Samsung Electronics and SK hynix, both major chipmakers, saw their shares plummet by 4.15 percent and 5.03 percent, respectively. Other affected companies included SK Square, SK hynix's parent company, and Samsung Electro-Mechanics, the electronic components unit of Samsung Electronics. The Korean won strengthened against the U.S. dollar during the session, trading at 1,341 won. Bond prices, which inversely correlate with yields, also rose, with the yield on three-year Treasurys falling 0.4 basis point to 3.736 percent and the return on benchmark five-year government bonds decreasing by 2.2 basis points to 3.870 percent.",
  "summary": "SEOUL, Nov. 3 (Yonhap) -- South Korean stocks plunged more than 3 percent Tuesda...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}