[Edaily Reporter Kim Kyung-eun ] The KOSPI fell more than 4% in early trading on the 30th, dropping below the 5,600 mark. Selling pressure appears to be spreading, particularly among major semiconductor stocks such as SamsungElectronics and SK hynix, as concerns over the profitability of U.S. Big Tech’s investments in artificial intelligence (AI) have resurfaced.

According to MP Doctor, as of 9:10 a.m. today, the KOSPI is trading at 5,695.03, down 242.63 points (4.09%) from the previous trading day. The index opened at 5,760.35, down 177.31 points (2.99%) from the previous session, and has since extended its losses.

By investor type, foreign and institutional investors have recorded net sales of 33.8 billion won and 91.2 billion won, respectively, while retail investors have recorded net purchases of 109.7 billion won.

Overnight on the New York Stock Exchange, tech stocks fell across the board as concerns over AI investment costs and profitability came to the fore. The Nasdaq Composite Index fell 1.38% from the previous trading day, and the Philadelphia Semiconductor Index also dropped 1.42%. Alphabet, Google’s parent company, plummeted 12.64%, causing approximately $500 billion (669 trillion won) in market capitalization to evaporate in a single day. This is believed to have dampened investor sentiment in the domestic stock market as well.

Han Ji-young, an analyst at KIWOOM Securities, predicted, “Although the impact of Alphabet’s sharp decline in the U.S. market has already been factored in, the domestic stock market is expected to open lower due to the after-hours plunge in Amazon and Intel’s stock prices,” adding, “During the trading session, a differentiated market trend based on individual company earnings is likely to continue.”

The two stocks with the highest market capitalizations are both trading lower. SamsungElectronics(005930)is trading at 224,500 won, down 7,500 won (3.23%) from the previous close. SK hynix(000660)is trading at 1,428,000 won, down 98,000 won (6.42%) from the previous trading day.

In addition, most of the top market-cap stocks—including SKSQUARE(402340)(-3.36%), SamsungElectroMechanics(009150)(-5.96%), LG Energy Solution(373220)(-2.11%), and SAMSUNG BIOLOGICS(207940)(-0.07%)—are trading lower. On the other hand, HMM(011200)(1.12%) and SAMSUNG EPIS HOLDINGS (0.04%) are posting slight gains.

By sector, the largest declines were seen in electrical and electronics (-3.47%), transportation equipment and parts (-3.29%), and machinery and equipment (-2.86%).

At the same time, the KOSDAQ Index is trading at 728.66, down 24.57 points (3.26%) from the previous trading day. The index opened at 737.76, down 15.47 points (2.05%).

By investor type, foreign investors have net sold 21.4 billion won, institutions have net sold 25.6 billion won, and individual investors have net bought 55.5 billion won.

Top KOSDAQ stocks by market capitalization are also generally trading lower. Alteogen Inc.(196170)(-1.14%), ECOPRO CO., LTD(086520)(-2.59%), ECOPRO BM CO., LTD.(247540)(-1.96%), Rainbow Robotics(277810)(-4.37%), LEENO Industrial Inc(058470)(-4.38%), WONIK IPS Co.,Ltd.(240810)(-4.90%), and HPSP Co., Ltd.(403870)(-3.50%) are all down.