KOSPI experiences record foreign sell-off in 1st week of Nov. amid AI bubble woes

South Korea's main stock index recorded its biggest-ever weekly sell-off by foreign investors in the first week of November as profit-taking and concerns over an artificial intelligence (AI) stock bubble spurred a market retreat, the Korea Exchange said Sunday. From Monday to Friday, foreign investors dumped a net 7.26 trillion won ($4.98 billion) worth of shares on the benchmark Korea Composite Stock Price Index (KOSPI), the bourse operator said. The amount marked the largest weekly sell-off by foreign investors in KOSPI history, surpassing the previous record of 7.05 trillion won in the second week of August 2021. The KOSPI experienced sharp volatility last week, climbing to a record high above 4,200 on Monday before plunging nearly 3 percent Wednesday. After a brief rebound Thursday, the index shed 1.81 percent Friday, closing below the 4,000 mark. The benchmark had been the fastest-rising major stock index among Group of 20 nations as of Oct. 27, buoyed by strong foreign buying of semiconductors and other blue chip stocks, according to data compiled by Yonhap Infomax, the financial aWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times