Kospi Swings From 4.6% Gain to 1.5% Loss After 10% Rout as AI Earnings Doubts Grow
Updated
Updated · Bloomberg · Jun 24
Kospi Swings From 4.6% Gain to 1.5% Loss After 10% Rout as AI Earnings Doubts Grow
3 articles · Updated · Bloomberg · Jun 24
Summary
The Kospi whipsawed on Wednesday, surging as much as 4.6% before sliding 1.5% as investors struggled to price South Korea’s chip-heavy market after the prior session’s selloff.
Debate over chipmakers’ earnings outlook and whether the AI-driven rally can keep running fueled the jittery trade, reversing an early rebound attempt.
The move followed a 10% rout in the previous session, underscoring how quickly sentiment has turned in what had been one of the world’s best-performing equity markets.
That volatility is again spotlighting the fragility of South Korea’s $4.5 trillion stock market, where sharp swings have become a defining feature of this year’s rally.