Among all the market gyrations triggered by the US midterm elections, few were as wild as those in South Korea, where the stock benchmark swung through a seven-percentage-point range before ending higher.
The Kospi jumped more than 3% early Wednesday following upbeat US tech earnings, only to erase those gains and plunge as much as 4% as signs of a Democratic sweep of Congress fueled concern over greater scrutiny of the AI industry. Dip buyers then rushed in, driving the index back to a 0.6% gain by the close and capping a roller-coaster session for one of the world’s most volatile proxies for the AI trade.
