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South Korean stocks fall 8% on semiconductor decline
South Korean stocks fell by 8%, reaching their lowest level in over three weeks, led by losses in the electronic chip sector. Concerns among investors about an increase in computing capacity surplus arose after Meta announced plans to sell excess AI-related resources. The won also depreciated against the dollar, government bond yields rose, and the KOSPI index declined by 655 points to close at 7,648 points. Foreign investors recorded net sales of 4.37 trillion won amidst volatility in the bond and local currency markets.
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