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South Korea's KOSPI Plunges Over 8% on Monday as Semiconductor Stocks Lead Losses

2026-06-08 08:31:31

According to Mark Velan, investment head at Lucerne Asset Management, South Korea's KOSPI index plunged over 8% on Monday, with semiconductor stocks hit hardest. Velan attributed the selloff primarily to position and momentum strategy liquidations rather than a reassessment of long-term artificial intelligence narratives. "The key question now is whether mega-cap enterprises will slow their AI spending," Velan said, adding there is no evidence of such slowdown at present.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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