South Korean stock market plunges 16% in two days: how Chinese CXMT IPO and fears of AI debt crushed Kospi
The South Korean Kospi index plunged 16% in two days due to fears of Chinese competition and overspending on AI. SK Hynix and Samsung Electronics stocks became the main victims of the sell-off, exacerbated by leveraged funds. Investors are sounding the alarm: the cost of default insurance for giants like Oracle and Google has reached record highs.
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