South Korean shares slide nearly 3% as tech selloff deepens; won strengthens

South Korean shares fell sharply as a technology-led selloff deepened, with the benchmark KOSPI losing nearly 3%. At 0233 GMT, the index was down 159.11 points, or 2.72%, at 5,699.97.

KOSPI records steep decline

The move represents a substantial drop for South Korea’s benchmark equity index. The decline came as pressure on technology shares intensified, placing the sector at the center of the market’s weakness.

The scale of the fall makes the KOSPI’s performance the key development in the session. However, the available market update does not provide further details on individual stocks or the specific factors driving the technology selloff.

Won strengthens as shares fall

The South Korean won strengthened during the same market period, creating a contrasting move between the country’s currency and equities. The update did not specify the extent of the won’s gain or the currency pair involved.

For investors tracking South Korea, the session highlights a sharp divergence in market performance: stocks weakened significantly while the won moved higher. Further developments will determine whether the equity decline continues, but no additional outlook was provided in the market report.