{
  "id": 213231,
  "title": "(2nd LD) Seoul shares tumble over 4 pct on tech losses amid lingering AI concerns",
  "url": "https://urgent.news/2026/08/06/2nd-ld-seoul-shares-tumble-over-4-pct-on-tech-losses-amid-lingering",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-06T07:37:12.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260806005552320"
  },
  "original_language": "en",
  "account": "South Korean stocks dropped more than 4 percent on Thursday due to declines in tech shares, amid lingering doubts about the profitability of investments in artificial intelligence. The Korea Composite Stock Price Index (KOSPI) fell 4.58 percent, or 301.88 points, to close at 6,296.38. This came after the index surged 1.62 percent on Tuesday and 3.76 percent on Wednesday. The local currency gained against the U.S. dollar. The benchmark index had previously risen on Tuesday and Wednesday due to eased concerns over AI profitability. However, after opening lower, the KOSPI continued its slide, prompting the exchange operator to activate a sell-side sidecar for five minutes at 10:18 a.m., pausing program trading for KOSPI-listed shares. Trading activity was light, with 281.8 million shares exchanged, worth 25.9 trillion won. Foreign investors sold a net 3.33 trillion won worth of stocks, while institutions offloaded 121.8 billion won, but individuals bought 3.34 trillion won. Wall Street investors sold off tech-heavy stocks, including Alphabet and Advanced Micro Devices, causing the tech-focused index to fall 0.83 percent due to doubts about the profitability of large-scale AI investments. Despite improving geopolitical and macroeconomic conditions, the KOSPI lost momentum due to losses in U.S. chip stocks and profit-taking, according to Han Ji-young, an analyst from Kiwoom Securities. He noted that investors are still seeking clear evidence of significant AI spending and growth. Semiconductor shares suffered the most significant losses, with Samsung Electronics down 6.3 percent and SK hynix falling 10.37 percent. SK Square, the parent company of SK hynix, dropped 13.32 percent, and Samsung Electro-Mechanics fell 9.37 percent. Shipbuilding companies also struggled, with HD Hyundai Heavy Industries down 0.39 percent and Hanwha Ocean decreasing 1.31 percent. Major retailer Hyundai Department Store slipped 3.36 percent, and leading brokerage Samsung Securities declined 2.25 percent. However, defense firm Hanwha Aerospace rose 4.67 percent, and pharmaceutical company Samsung Biologics increased 1.54 percent. The Korean won strengthened slightly against the U.S. dollar, closing at 1,423.8 won, up 0.7 won from the previous day's close. Bond prices fell, with three-year Treasurys yields rising 7.3 basis points to 3.742 percent, and five-year government bonds returning 4.1 basis points to 3.957 percent.",
  "summary": "SEOUL, Aug. 6 (Yonhap) -- South Korean stocks tumbled more than 4 percent Thursd...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "(URGENT) Seoul shares tumble 4.6 pct on tech losses amid lingering AI concerns",
        "url": "https://urgent.news/2026/08/06/urgent-seoul-shares-tumble-4-6-pct-on-tech-losses-amid-lingering-ai",
        "published": "2026-08-06T06:33:16.000Z"
      }
    ]
  },
  "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."
}