Bank of England Governor Bailey: a substantial revision to AI expectations could trigger market shocks.

South Korea's market closed lower on Thursday, marking a second consecutive weekly decline in a shortened holiday trading week as weakness in chip stocks and rising oil prices stoked inflation concerns. The won strengthened and benchmark government bond yields rose. The KOSPI fell 177.97 points, or 2.62%, to 6,625.93, down 5.79% for the week. Samsung Electronics slid 2.42% and SK Hynix fell 2.44%.

Han Ji-young at Kiom Securities said focus should be on post-Q3 earnings share-price moves and shifts in domestic and overseas supply-demand rather than solely on whether results beat consensus, and to monitor potential revisions to 2027 earnings expectations. She added short-term supply-demand distortions may arise from the market holiday on Friday the 9th, ETF rebalances on the 8th and 12th, and options expiry on the 8th.