Seoul market slides for fourth day amid rate worries and AI slowdown calls
South Korea's KOSPI fell for a fourth consecutive session, dropping 0.85% to 6,627.26 as investors reacted to global rate and oil price concerns and cautions from AI leaders.
On Tuesday, South Korea's main equity index slipped for the fourth day in a row, ending at 6,627.26, down 57.11 points or 0.85 percent. Market participants cited heightened sensitivity to external macro risks, including the 10-year U.S. Treasury yield breaking the 5% threshold and Brent crude climbing to over $107 a barrel. The Federal Reserve's upcoming policy meeting, expected to result in a rate increase, further weighed on sentiment.
Adding to the pressure, prominent AI executives urged a slowdown in the sector's rapid development. The Korean won also depreciated versus the U.S. dollar, reinforcing the overall negative tone. Daishin Securities analyst Lee Kyoung-min noted the lack of new domestic negatives but emphasized the impact of these global uncertainties.
Why it matters
The decline highlights how global macro trends and AI sector concerns are influencing South Korean equity markets.
How this story developed
- Sep 12 OpenAI CEO says 2026 IPO would be poorly timed
- Sep 13 Altman announced the IPO will not proceed in 2026.
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