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KOSPI plunges on US AI investment fears

Korean stocks tumbled more than 5 percent late Friday morning, led by heavy losses in technology shares amid renewed concerns over the sustainability of the AI boom, tracking overnight Wall Street losses after disappointing quarterly results from major US tech firms. The KOSPI fell more than 4 percent in intraday trading, triggering a halt in program selling, according to KBS World. Goldman Sachs has cut its 12-month KOSPI target by 25 percent, from 12,000 to 9,000, citing concerns over returns on AI infrastructure investment, though it still sees over 60 percent upside. Meanwhile, September industrial output grew at the fastest pace in over 15 years, led by chips, with retail sales and facility investment also rising, per Yonhap and the Korea Times.

  1. Seoul stocks down over 5% late Fri. morning on tech losses amid AI concerns Korea Times · 2026-10-30
  2. KOSPI Tumbles More than 4% in Intraday Trading; Program Selling Halted KBS World · 2026-10-30
  3. Goldman Sachs Cuts KOSPI Target to 9,000, Still Seeing Over 60% Upside Business Korea · 2026-10-26
  4. Sept. industrial output growth hits 15-yr high on chips; retail sales, investment also up Korea Times · 2026-10-30
  5. (2nd LD) Sept. industrial output growth hits 15-yr high on chips; retail sales, investment also up Yonhap · 2026-10-30

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