Trading on South Korea’s Kospi index was suspended for the third time this week on Friday, as panic selling engulfed Asian equity markets.
The halt was triggered by an 8% plunge in the benchmark index, a rare event that underscores the severity of the current market stress.
The suspension comes as investors across the region aggressively unwind positions in technology firms, fearing that recent valuation spikes have become unsustainable.
The sell-off in Seoul is part of a wider deterioration in sentiment across Asia.
The MSCI Asia Pacific Index fell sharply, mirroring the weakness seen in global markets earlier in the week.
Technology stocks are bearing the brunt of the selling pressure, with investors rotating out of high-growth names amid concerns over stretched valuations and potential regulatory headwinds.