South Korean shares head for second weekly loss on AI stock selloff
The KOSPI fell 2.14% as an AI-related selloff pushed investors toward safer assets, while the won strengthened and bond yields dropped, Reuters reported.
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what happened
According to Reuters, South Korean shares fell on Friday and were on track for a second straight weekly decline. A selloff in AI-related stocks pushed investors toward safer assets globally. The benchmark KOSPI slid 118.59 points, or 2.14%, to 5,415.18 as of 01:38 GMT.
On Thursday the Nasdaq lost more than 1% as growth stocks weakened after earnings from Tesla and Meta did little to ease AI concerns, while higher oil prices added to unease. Samsung Electronics dropped 2.80%, SK Hynix 0.57% and Hyundai Motor 3.81%. Foreign investors were net sellers of shares worth 589.3 billion won.
The won gained 0.29% against the dollar to 1,322.6 per dollar, while the three-year bond yield fell to 3.774% and the 10-year to 4.073%.
why it matters
The slide in major technology names and foreign outflows show how heavily the Korean market depends on the AI theme. The stronger won and lower bond yields point to money moving into defensive assets, a factor investors should weigh when assessing regional risk.
market impact
Korean stocks and KRW: capital leaving AI names pressures the KOSPI and supports the won
tags
instruments
sources
- S.Korean shares head for second weekly loss as AI stock selloff bites — Reuters, 23 October 2026 at 02:13 UTC
- South Korean shares head for second weekly loss as AI stock selloff bites — Reuters, 23 October 2026 at 02:43 UTC
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