The benchmark KOSPI fell greater than 3 p.c to drop under the 4,000-point mark throughout intraday buying and selling on Friday, pushed by sell-offs from international and institutional traders involved about U.S. synthetic intelligence (AI) bubble.
As of 1:45 p.m., the KOSPI was buying and selling at 3,897.80 factors, down 3.19 p.c from the day prior to this’s shut. The index fell under the 4,000-point mark, a key psychological threshold it had final closed above on Oct. 27.
The decline got here as international traders web offered greater than 270 billion gained ($185.3 million), whereas institutional traders offloaded over 250 billion gained. In distinction, retail traders have been web patrons of about 520 billion gained.
The index opened at 3,963.72 factors, down 62.73 factors, or 1.56 p.c, from the earlier session. It narrowed its losses and briefly recovered above the 4,000-point stage, however has since turned downward once more and prolonged its decline.
