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Asia

South Korean shares fall over 5% on AI spending concerns and oil spike

Markets-Economic Times · 1h ago · 🇮🇳 India

South Korean shares fall over 5% on AI spending concerns and oil spike

South Korean shares declined significantly on Friday due to AI spending concerns. Mega US tech firms' moderation in AI outlays impacted Asian chipmakers' outlook. Oil prices exceeding $100 a barrel also contributed to the negative market sentiment. Major chipmakers like Samsung Electronics and SK Hynix experienced substantial losses. The benchmark KOSPI index triggered a trading curb, reflecting investor caution.

Read the full story at Markets-Economic Times →

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