"Black Thursday": KOSPI Plummets Over 7%... Sell Sidecar Triggered

[Anchor]

Amid renewed concerns over the profitability of the AI industry, both the KOSPI and KOSDAQ plummeted by over 7%. Sell sidecars were triggered consecutively in both markets, and the KOSPI extended its losing streak to seven consecutive trading sessions.

Reporter Lee Seong-hoon has the details.

[Reporter]

The market plunged from the opening bell, dropping to the 5,500 range during intra-day trading.

The KOSDAQ also fell by more than 7%, retreating to the 760 range.

Due to the sharp decline, sell sidecars were successively triggered in both the KOSPI and KOSDAQ markets.

This marks the first time in about 11 weeks—since July 29—that sell sidecars have been triggered in both markets on the same day.

In the KOSPI market, foreign investors have maintained a net selling streak for eight consecutive trading sessions.

U.S. consumer price inflation for September exceeded market expectations, fueling concerns over rising interest rates. Combined with the reignited controversy over the profitability of the AI industry, the Philadelphia Semiconductor Index plunged more than 4% on Wall Street overnight.

In the wake of this impact, selling pressure has spread across the domestic stock market, centered heavily around semiconductor shares.

As of 11:00 a.m., Samsung Electronics plummeted by 9%, while SK Hynix crashed by over 11%.

Concerns are also growing that actual revenues may fall short compared to the scale of AI infrastructure investments.

Market research firm Gartner projected that $8.5 trillion in revenue will be needed by 2030 to cover AI infrastructure investments and related costs, while actual data center-related revenue is expected to reach no more than $3.6 trillion.

Added to this are worries over technological catching-up and expanding supplies by Chinese semiconductor firms, causing the KOSPI to extend its downward trend for the seventh straight trading session.

(Video Editing: Lee Seung-jin)
※ Please note: This article was translated by AI and may contain errors.