FX.co ★ South Korean Shares Extend Fall on Tech Losses

The KOSPI index declined by 0.34% on Wednesday, closing at approximately 3,940, marking its second consecutive session of losses after the U.S. stock market also experienced a downturn. This movement in South Korean stocks largely reflects the recent retreat in American technology stocks, as investors approach Thursday's U.S. employment report with increasing caution. Intensifying the general market unease, Alphabet CEO Sundar Pichai issued notable warnings about the current AI surge, underlining its speculative nature and alerting that a potential downturn could impact the sector without sparing any company. Leading the declines were major tech firms such as Samsung Electronics, down 1.74%, and SK Hynix, which fell by 2.11%. Additionally, energy sector giants like LG Energy Solution saw a decrease of 2.03% and Doosan Enerbility dropped by 1.59%.