Kospi Falls 1% as Goldman Cuts Target 25% on AI Trade Fears

3 articles · Updated · Bloomberg · Oct 26

South Korea’s Kospi dropped 1%, with Samsung Electronics retreating as investors sold a key bellwether for the AI trade.
A 25% cut to Goldman Sachs’ target for the benchmark underscored deepening concern that the recent pullback in technology shares may have further to run.
Megacap tech earnings due next are driving the caution, with investors looking for signals on AI demand and whether the sector’s weakness will spread.
Chinese AI model developers also slumped, chip-related shares led losses in Japan’s Nikkei, while oil fell and Treasuries rose in a broader risk-off move.

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