The South Korean stock market turns downward as AI concept stocks retreat, dragging the KOSPI down by 2.5%.

As investors await the results of the US midterm elections, the South Korean stock market reversed course after opening higher, with artificial intelligence-related stocks retreating. The South Korean KOSPI index fell by 2.5%, with heavyweight Samsung Electronics dropping 3% and SK Hynix falling by 4.5%. Asian artificial intelligence infrastructure firms are highly dependent on US-led AI investments. In a report, iM Investment & Securities analyst Yang Hyun-kyung stated that if the Democratic Party controls both chambers of Congress, calls for strengthened regulation of artificial intelligence may increase, which could introduce uncertainty into the data center expansion timeline.