KOSPI slips to around 6,660 as AI concerns hit technology stocks

  • KOSPI fell to around 6,660 for a fourth straight session on Tuesday.
  • Nvidia dropped 3%, while Broadcom and AMD lost more than 4% overnight.
  • Saudi Arabia shut a key pipeline as oil stayed above $100 amid Middle East tensions.

The KOSPI edged down to around 6,660 on Tuesday, extending its decline for a fourth consecutive session as worries about a slower pace of artificial-intelligence development drove a global technology-stock selloff. Nvidia fell 3% overnight, while Broadcom and AMD dropped more than 4%, heightening concerns about the outlook for AI investment and semiconductor demand. Large-cap Korean stocks were mixed: KB Financial Group fell 2.4%, Doosan Enerbility declined 0.8%, Hanwha Aerospace dropped 5.01% and HD Hyundai Heavy Industries lost 4.0%. Samsung Electronics rose 0.8% and SK hynix gained 0.7%. The U.S. 10-year Treasury yield briefly reached its highest level since October 2023 ahead of the Federal Reserve's policy decision this week, putting additional pressure on growth stocks. Oil prices stayed above $100 a barrel as Middle East tensions escalated after Saudi Arabia shut a key pipeline, keeping inflation and input-cost concerns elevated.

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