South Korea's Composite Stock Price Index closed down 4.5%
South Korea's Composite Stock Price Index fell for the second consecutive trading day, with retail and chip stocks lower. South Korea's KOSPI index closed down 4.5% at 6516.27 points. Asian emerging stock markets diverged on Monday, with South Korean stocks plunging, highlighting the further ebb of the artificial intelligence (AI) trading theme; at the same time, the escalation of war in the Gulf region pushed up oil prices and rekindled concerns about inflation in Asian markets. South Korea's stock market was closed for a holiday last Friday. After trading resumed on Monday, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.1% at one point. During the session, the Korea Exchange initiated the SIDECAR mechanism for suspending program trading on the Korea Composite Stock Price Index (KOSPI). KOSPI has plummeted more than 20% so far this month, confirming that it has entered a bear market.