Kospi Falls 4.98% to 5,641.97 Points as Sell Orders Are Suspended for Five Minutes
Key Facts
The Kospi fell 4.98% to 5,641.97 points at 10:09 a.m. Korea time on October 30, in an intraday snapshot, after hitting a low of 5,655.41 points, according to Google Finance data. The decline came amid Wall Street losses and investor concerns about the continuation of the artificial intelligence boom, Yonhap reported. The mechanism suspended the validity of algorithmic sell orders for five minutes, but that does not mean the market was closed or all trading halted. Open sources do not provide the index’s closing level on October 30.
Comparison with the previous session shows the losses widening during trading; the Kospi closed at 5,937.66 points on October 29, according to EL7 data. Shares of the two Korean chipmakers ended that session at $162.09 for SK Hynix and 4,316 for Samsung Electronics, according to the same data. Available sources do not support the declines cited in the previous draft for the two stocks during the October 30 session. Yonhap linked pressure on the market to losses in U.S. stocks and investor concerns about the continuation of the artificial intelligence boom. In the United States, Alphabet shares fell more than 10% in extended trading after the results announcement on October 28, according to The Associated Press.
Alphabet reported that its third-quarter 2026 revenue rose 25% year over year to $127.58 billion, but the figure fell short of analysts’ expectations, according to The Associated Press. Net income declined to $26.17 billion in the July-to-September period, compared with $34.98 billion in the same period a year earlier. The weaker net income coincided with strong growth in its cloud computing business, with Google Cloud revenue increasing 103% year over year to $30.7 billion. The company maintained its outlook for a significant increase in capital expenditures during 2027. Alphabet’s chief financial officer said the company would provide further details on that spending during its fourth-quarter earnings call.
Alphabet’s results point to the contrast that investors focused on: rapid growth in cloud computing services alongside high capital spending and pressure on quarterly cash flow. This disparity puts quarterly spending in context, as it does not mean the company recorded a sustained deficit over a year. The expected level of investment in 2027 remains under scrutiny, with the company set to provide details during its fourth-quarter earnings call. In Seoul, the Korea Exchange’s rules state that the mechanism is triggered when the futures price moves more than 5% from the base price for one minute, suspending the validity of algorithmic sell orders for five minutes.