AI Startup Plunge and Spending Focus Weigh on Markets
South Korean startup Elice Group dropped sharply in its debut, dampening market sentiment ahead of major artificial intelligence earnings reports. Meanwhile, oil prices rose amid supply disruption fears and central banks monitored inflation.
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South Korea startup Elice Group fell 30% below its initial public offering price, dragging the KOSPI gauge down 4% amid global AI sector jitters. The drop precedes quarterly results from major technology firms facing escalating capital expenditure demands. Investors are questioning whether infrastructure spending will outpace financial returns as borrowing costs remain elevated.
