The stocks of the Republic of Korea (ROK) closed lower on Monday with sharp drops of tech stocks following U.S. top executives' calls for an AI slowdown and the inflation worry due to rising international oil prices being two of the most significant contributors.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 225.54 points, or 3.26 percent, to close at 6,684.37, and the tech-heavy KOSDAQ Index lost 13.85 points, or 1.69 percent, to finish at 806.79 points.
The calls by top executives of major U.S. AI developers to slow the pace of AI development triggered selling of related shares on ROK markets.
Chipmaker SK Hynix and tech giant Samsung Electronics led the slide, with their share prices falling over 4 percent on Monday.
ROK stocks close lower on Monday on AI slowdown calls, inflation worry
ROK stocks close lower on Monday on AI slowdown calls, inflation worry
Delegations from nearly 100 countries, regions and international organizations are to attend the 13th Beijing Xiangshan Forum, said Jiang Bin, spokesman of the Chinese Ministry of National Defense, at a press conference Monday in Beijing.
"The 13th Beijing Xiangshan Forum will officially open tomorrow, and all preparatory work has been completed. Representatives from different countries are arriving in Beijing. This year's forum will bring together official delegations from nearly 100 countries, regions and international organizations, as well as experts and scholars from China and abroad, including over 60 representatives at the ministerial level or above and military chiefs of general staff or above. The broad geographical coverage and strong representativeness of the participants reflect the forum's long-standing value of openness and inclusiveness," Jiang said.
"In this beautiful season of golden September and on the occasion of the 20th anniversary of the establishment of the Beijing Xiangshan Forum, we warmly welcome the arrival of guests from home and abroad, to build consensus on stability, advance security governance together, and bring more peace and hope to a world marked by intertwined changes and challenges," he said.
Delegations from nearly 100 countries, regions, int'l organizations to attend 13th Beijing Xiangshan Forum: spokesman
