SEOUL STOCKS SLIDE OVER 3 % ON PROFIT - TAKING AMID PERSISTENT AI WOES

What happened: South Korean shares fell more than 3 percent Thursday as investors took profits on major chip shares after the previous session's rebound, amid concerns over AI value chain investments. Key numbers: KOSPI fell 201.8 points, or 3.52 percent, to 5,533.77. Why it matters: A Daishin Securities analyst said Meta and Tesla results that beat expectations failed to ease concerns over profitability amid massive AI investments, and that the end of SK hynix's share buyback reduced a source of demand support. Coverage: 3 outlets in 24h

South Korean shares fell more than 3 percent Thursday as investors took profits on major chip shares after the previous session's rebound, amid concerns over AI value chain investments.

A Daishin Securities analyst said Meta and Tesla results that beat expectations failed to ease concerns over profitability amid massive AI investments, and that the end of SK hynix's share buyback reduced a source of demand support.