South Korea's finance minister says more steps are ready to ease the AI-driven stock rout
Yonhap reports Lee Hyoung-il spoke after an emergency meeting with financial regulators and the Bank of Korea; the KOSPI had been halted for 20 minutes after an 8 percent drop and was down 3.55 percent at 5,186.68 by 11:59 a.m.
Why it matters
The minister's message is that the fundamentals are solid and that authorities will act if volatility accelerates, a signal aimed at investors who sold memory-chip stocks on fears that tighter US rules on AI data centres will cut demand. Yonhap says regulators will also lift collateral rules on loans used to buy stocks for three months from later this month. The KOSPI's low of 4,911.28 shows how far prices fell before partly recovering. Watch what the promised measures are, whether they include direct buying, and how Samsung and SK hynix trade next.
Key facts
- Finance Minister Lee Hyoung-il: authorities ready to take additional actions if volatility accelerates
- Emergency meeting of the Financial Services Commission, Financial Supervisory Service and Bank of Korea
- KOSPI halted for 20 minutes after falling more than 8 percent
- Index down 3.55 percent (191.22 points) to 5,186.68 at 11:59 a.m., low of 4,911.28
- Collateral regulation on stock-purchase loans to be lifted for three months from later this month