SEOUL, July 28 (Yonhap) -- South Korean stocks crashed more than 10 percent Tuesday as investors sold off tech shares on intensifying doubts over the future of large-scale investment into artificial intelligence (AI) infrastructure. The local currency strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 732.09 points, or 10.84 percent, to close at 6,023.66, after plunging to 5,830.39 at one point.

It marked the lowest closing since April 14, when the index finished at 5,967.75.

After opening 5.26 percent lower, the KOSPI extended losses throughout the session, plunging more than 8 percent in the morning. At 10:14 a.m., the bourse operator activated a marketwide circuit breaker to halt trading of KOSPI-listed shares for 20 minutes.

The massive offloading spree followed an overnight selloff on Wall Street, triggered by rising skepticism about tech giants' heavy spending on artificial intelligence (AI). The PHLX chip index, a gauge of U.S. semiconductor giants, extended its recent selloff, falling 2.2 percent.

brk@yna.co.kr

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