Trading of KOSPI stocks suspended amid tech sell-off
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Financial data is shown on a screen inside the dealing room of Hana Bank in central Seoul, Thursday. Yonhap
Korea’s bourse operator on Friday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) on an extended sell-off in tech shares.
Trading of KOSPI-listed shares was halted for 20 minutes from 9:03, as the index plunged more than 8 percent from the previous session’s close.
The benchmark index came under heavy selling pressure following a tech rout on Wall Street, triggered by concerns that Democrats’ sweeping victory in the U.S. midterms could slow down the pace of the build out of artificial intelligence (AI) data centers.
It marked the tenth time this year that the KRX has activated a circuit breaker.
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