Key facts
- South Korea's Kospi index fell 6.29%.
- The Kospi was the worst-performing major market in Asia.
- Tech stocks led the decline, tracking a Wall Street selloff.
- Japan's Nikkei 225 fell 1.34%.
- Australia's ASX 200 lost 0.51%.
South Korea's Kospi index experienced a significant decline of 6.29%, making it the worst-performing major market across Asia. This sharp drop was largely influenced by a selloff in technology stocks, which mirrored similar movements on Wall Street. The decline was also attributed to a cooling of enthusiasm for artificial intelligence trades that had previously driven markets to record highs. In line with the broader Asian market downturn, Japan's Nikkei 225 index fell by 1.34%, and Australia's ASX 200 index saw a decrease of 0.51%. South Korea's $4.7 trillion stock market is showing signs of strain after a period of strong performance.