KOSPI falls 3.7% as AI concerns and chip profit-taking weigh

The KOSPI closed at 5552.7, down 3.7%, and the KOSDAQ fell 3.3% to 782.0. Sources tie the selling to renewed concerns about AI investment, which hit major chip shares such as Samsung Electronics and SK hynix, along with profit-taking in chip stocks. Defense stocks also led the declines amid uncertainty over US military matters. Foreign investors sold a net ₩538.8 billion on the KOSPI and ₩185.5 billion on the KOSDAQ, and institutions also sold heavily.

Several individual stocks moved sharply. G2GBIO rose 14.9% after signing a platform evaluation contract with China's UBT for long-acting injectables. The company said this is not a full licensing deal yet. Korea Circuit gained 12.4% on expectations of stronger third-quarter profit from its SoCAMM memory module sales. Vina Tech climbed 11.8% after a ₩123 billion supercapacitor supply contract, and a trading halt in its shares was also reported.

On the downside, 엘리스 fell 32.0% on its first day of trading as doubts about AI data center investment spread. LS Eco Energy dropped 14.6% despite record third-quarter results, as selling across cable makers tied to AI infrastructure funding worries weighed on the group. For Curioxbiosystems, which fell 22.1%, the sources give no clear reason. Separately, Yangjisa reclaimed its 200-day line, the first time in over 14 months.