The KOSPI index in South Korea fell 5%, and Citigroup downgraded its rating to neutral

The South Korean KOSPI index fell 5% as investors closed out AI related trades. The index continued to decline for four consecutive weeks, dropping 28% from its historical high on June 22. Citigroup analysts stated that due to ongoing market volatility, the rating of South Korea's KOSPI index has been downgraded from overweight to neutral, while maintaining a target of 10000 points.