ET 18:36

Stock: Tech Shares May Weigh on South Korea Stock Market - KOSPI, KOSDAQ

[Para 1: The Lead] South Korea's KOSPI and KOSDAQ indices are expected to be weighed down by tech shares, as investors react to global market volatility and domestic economic data. Tech sector stocks, particularly those in semiconductor and IT services, have seen significant sell-offs, impacting the broader market performance. [Para 2-3: Supporting details & Context] According to market data, tech stocks represented 25% of the KOSPI and 30% of the KOSDAQ's value. The sell-off in tech has been driven by concerns over slowing global demand and rising interest rates. The South Korean tech sector, including Samsung Electronics (005930.KS) and SK Hynix (000660.KS), has seen its shares drop by 4.5% and 5.2% respectively, in the last trading session. The South Korean central bank's decision to hike interest rates by 25 basis points in January is also contributing to the market's cautious tone.

EditorWong Mei Ling