South Korean stocks swing as AI spending worries hit chipmakers

South Korean shares swung between gains and losses Friday as AI spending concerns weighed on chipmakers, leaving the KOSPI on track for a third consecutive weekly decline. The benchmark KOSPI rose 0.18% to 6,307.47, after earlier swings between a 1.9% gain and 0.5% loss. Samsung Electronics gained 1.74%, while SK Hynix slipped 0.54%. Foreign investors were net buyers of 287.8 billion won. Wall Street's subdued session and unwinding of leveraged semiconductor positions fueled investor caution over whether data-centre operators can sustain heavy AI spending. The won traded at 1,423.8 per dollar.