Quote post: @KobeissiLetter on KOSPI Stage-1 halt (8.8% to ~4,912, ~48% off June high)
South Korea's KOSPI tripped a Stage-1 circuit breaker three minutes after the open at 4,912. That is down 8.8% today and about 48% from the June high.
I think Asia is pricing a slower AI buildout faster than Wall Street did. Two sessions have cut about 14% off Wednesday's close.
https://x.com/KobeissiLetter/status/2118495095901315560
Sources: Yonhap: KOSPI -8.76% to 4,911.91 at 09:03; Stage-1 circuit breaker, 20-min halt; broke 5,000 · Newspim: KRX Stage-1 circuit breaker at 09:03:33; spot and futures halted 20 minutes · Yonhap EN: KOSPI opened -2.24% at 5,263.26 Friday after US S&P -4.36% Nasdaq -5.52% · AP: US Nov 5 S&P -4.4%, Nasdaq -5.5%; AI data-center selloff after midterms · Korea JoongAng: June 19 peak 9,385.59; Nov 5 close 5,383.80 (-5.28%)
Not financial advice. For informational and educational purposes only.