South Korean AI infrastructure company Ellis Group began trading as much as 30% below its offer price on its first day of listing, while the KOSPI fell about 3.6%. The IPO raised approximately KRW 201.1 billion.
South Korean AI infrastructure company Ellis Group began trading as much as 30% below its offer price on its first day of trading, while the KOSPI fell 3.61%. This heightened caution across the broader market, particularly among technology stocks, that day. The IPO raised KRW 201.1 billion (approximately ¥24.0 billion).
Investors grew more inclined to wait and see ahead of earnings from Meta Platforms and other companies, while reports indicated that the major hyperscalers' capital spending next year is expected to expand significantly. Goldman Sachs forecasts total capital spending of approximately $1.2 trillion next year, and the relationship between financing costs and returns has become a focus for the market.
At the same time, crude oil prices continued to rise and the dollar remained firm. European stock futures fell, and concerns about market risks following unrest in France intensified. There were also reports that remarks by senior Federal Reserve officials suggested that they were not in a hurry to raise interest rates again.
In addition to Meta's earnings this week, results from Tesla, Lam Research and Texas Instruments are due to be announced. Capital flows into and out of AI-related companies are drawing market attention.