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KOSPI falls 4.12% intraday, pares losses by 10 a.m.
On the 23rd, the KOSPI dropped to 5305.98 within 10 minutes of opening before recovering some ground. At 10 a.m., it stood at 5434.80, down 1.79% from the previous day.
On the 23rd, the KOSPI opened at 5403.17, down 130.60 points, or 2.36%, from the previous day. It fell to 5305.98 within 10 minutes of opening, a decline of 4.12%, before recovering some ground to reach 5434.80 at 10 a.m., down 1.79% from the previous day.
Funds that had flowed into technology stocks and AI infrastructure companies on expectations of growth in the artificial intelligence industry are shifting toward U.S. Treasuries. Rising credit risk and geopolitical uncertainty are accompanying this movement into the safe-haven assets.
The market is assessing AI companies' ability to raise funds for large investments alongside their earnings and growth prospects. It has begun examining whether companies can finance the investment they need, as well as how much they can grow. The Middle East war and the U.S. political calendar also remain market variables.