South Korea's Ministry of Finance: Will closely monitor stock market volatility risks

According to Mars Finance, citing Gate data, South Korea's Ministry of Finance stated on Wednesday that Finance Minister Koo Yoon-cheol, following a meeting with the central bank governor and heads of financial regulatory agencies, agreed to closely monitor risk factors that could exacerbate stock market volatility. The Ministry of Finance stated that increased stock market volatility stemmed from profit-taking by foreign investors and institutions, portfolio rebalancing, and changes in expectations for the global AI sector. In early trading today, the South Korean KOSPI index fell as much as 4%, hitting its lowest level since May 20th, before rebounding, driven by a rally in chip stocks. The Ministry of Finance pointed out that increased concentration in the semiconductor industry has become a factor exacerbating financial market volatility.