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06.11.202601:16:10UTC+00South Korean Shares Sinks Below 5,000

The benchmark KOSPI plunged 7.77% to around 4,966 on Friday, sliding below the 5,000 mark to a nine-month low as a steep sell-off in technology stocks followed an overnight rout on Wall Street. Investor anxiety deepened after the Democrats’ sweeping victory in the US midterm elections fueled fears that tighter regulations could slow investment in AI infrastructure and data centers. The tech-heavy Nasdaq tumbled 5.52%, while the S&P 500 fell 4.36%.

South Korean chipmakers were hit hardest, with Samsung Electronics sinking 7.99% and SK Hynix tumbling 9.97%. The sharp drop triggered a circuit breaker shortly after the opening bell, halting KOSPI trading for 20 minutes from 9:03 a.m. In addition, rising oil prices amid disruptions in the Strait of Hormuz further weighed on sentiment. Finance Minister Lee Hyoung-il vowed to introduce measures to stabilize markets, while the trading suspension marked the 10th circuit breaker activation this year.

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