Business
South Korean Stocks Tumble, Triggering Second Trading Halt This Week
South Korean shares slumped more than 8%, prompting regulators to halt trading for the second time this week as jitters over the valuations of companies riding the artificial-intelligence boom rattled the world’s best-performing market this year.
The benchmark Kospi tumbled 8.1% Friday afternoon, erasing Thursday’s gains as investors grew concerned that the rapid growth in profits of chip manufacturers that supply the AI industry could top out. Reflecting how volatile trading of South Korean stocks has become, regulators briefly suspended trading again in an effort to steady the market.
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