SEOUL, May 12 (AJP) -South Korea’s benchmark KOSPI swung violently on May 12 after briefly nearing the symbolic 8,000-point threshold before tumbling into its first decline in six sessions, underscoring the heightened volatility gripping one of the world’s hottest equity rallies.
The KOSPI opened at a record 7,953.41, up 1.68 percent from the previous session, and climbed as high as 7,999.67 in early trading — just shy of the historic 8,000 level — before abruptly reversing course. Selling pressure intensified through the session, dragging the index to an intraday low of 7,421.71 before it closed at 7,643.15, down 2.29 percent on the day.
The reversal came less than a week after the KOSPI first broke above the 7,000-point mark on May 6, extending a blistering rally fueled by semiconductor and AI-related stocks.
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