South Korea's Kospi hits six-month low as AI stock selloff deepens

South Korea's main stock index fell to its lowest level in six months on Friday, heading for its worst close since April as an AI-related selloff intensified across Asian markets. The losses followed sharp declines in US technology stocks, driven by investor concerns over heavy debt-financed spending on AI infrastructure. The Kospi dropped as much as 4.1% before paring losses to about 2%, while SK Hynix and Samsung Electronics shares fell up to 4.2% and 5.1%, respectively. The Nasdaq Composite fell 2.6% and the PHLX Semiconductor Index plunged 6.7%, their biggest drops since June. Cooling investor interest also halted billion-dollar fundraising efforts, with SK Hynix abandoning plans to list its Solidigm subsidiary on US markets.