South Korean shares rebound but face worst week since 2008

South Korean shares rebounded 2.36% on Friday on bargain hunting, but the KOSPI remained on track for its biggest weekly loss since October 2008, driven by concerns over AI investment sustainability and continued foreign selling. The index rose 131.07 points to 5,685.29 after plunging nearly 8% on Thursday, yet it was down 14.3% for the week, marking a third consecutive weekly decline and a seven-session losing streak. Technology stocks like Samsung Electronics and SK Hynix recovered, while foreign investors remained net sellers. South Korea's finance ministry said it would intensify monitoring of financial markets, and the won weakened 0.30% to 1,346.1 per dollar. The steep decline underscored persistent worries about valuations in the global technology rally.