On the 27th, the KOSPI index opened down nearly 3% on shock from Google's new technology "TurboQuant" and is being transacted around the 5,300 level. TurboQuant is an artificial intelligence (AI) model that drastically reduces memory usage, raising concerns that demand for semiconductor memory could decline.

Uncertainty over war negotiations between the United States and Iran is also pressuring the index. U.S. President Donald Trump said he would postpone a strike on Iran until Apr. 6, but reports also said that, at the same time, a plan to deploy an additional 10,000 troops, including infantry and armored units, to the existing forces is under review, keeping geopolitical tensions elevated.

As hopes for a U.S.–Iran cease-fire fade, the KOSPI opens lower on the morning of the 27th, with market indicators displayed on the dealing room board at Hana Bank in Jung-gu, Seoul. /Courtesy of News1

As of 12:01 p.m., the KOSPI index is being transacted at 5,316.28, down 144.18 points (2.64%) from the previous transaction day.

Foreign investors are net selling 2.3799 trillion won, dragging down the index. Foreign net selling has continued for seven trading days. This is the longest net selling streak on record based on the KOSPI. Individuals and institutions are net buying 2.1541 trillion won and 25 billion won, respectively.

While Samsung Electronics and SK hynix are down more than 3%, semiconductor stocks such as HANMI Semiconductor and ISU Petasys are also plunging.

Hanwha Solutions, which said the previous day it would seek to improve its financial structure through a rights offering worth 240 billion won, is also plunging for a second straight day. Hanwha Solutions is down 18% the previous day and down 6% today.

At the same time, the KOSDAQ index is being transacted at 1,123.48, down 13.16 points (1.16%) from the previous transaction day. While foreigners and institutions are on the "sell" side with 96 billion won and 52.8 billion won, respectively, individuals alone are net buying 141.3 billion won.

Overnight, U.S. stocks also closed lower. As end-of-war talks between the United States and Iran struggled, inflation fears mounted, and the launch of TurboQuant raised the possibility of a slowdown in memory demand. The three major New York indexes fell 1%–2%, and semiconductor stocks such as Micron (-7%) and SanDisk (-11%) plunged.

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