SEOUL, Oct. 22 (Yonhap) -- South Korean shares plunged more than 3 percent Thursday as investors took profits on major chip shares following a rebound in the previous session, amid concerns over investments in the artificial intelligence (AI) value chain. The Korean won strengthened against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 201.8 points, or 3.52 percent, to 5,533.77.
The index opened down 1.14 percent before briefly turning positive to reach an intraday high of 5,740.28. It soon resumed its decline, with losses deepening sharply.
The KOSPI had rebounded more than 3 percent in the previous session, recovering from steep losses as semiconductor shares rallied.
Overnight, U.S. stocks closed mixed as AI-related shares rebounded following SpaceX's quarterly results.
The Dow Jones Industrial Average rose 0.69 percent, while the S&P 500 gained 0.58 percent and the tech-heavy Nasdaq Composite advanced 1.05 percent.
After delivering sound earnings, Meta Platforms boosted its bet on the AI sector.
In Seoul, tech stocks led the decline.
The Korean won was quoted at 1,324.2 won against the U.S. dollar as of 3:30 p.m., up 1 won from the previous stock trading session's close.
Financial data is shown on a screen inside the dealing room of Hana Bank in central Seoul on Oct. 22, 2026. (Yonhap)
khj@yna.co.kr
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