Seoul shares open sharply lower on AI woes ahead of US midterm elections
Samsung Electronics and SK hynix led declines as investors worried about heavy artificial intelligence infrastructure spending ahead of the U.S. midterm elections.
7 Articles
7 Articles
Seoul shares open sharply lower on AI woes ahead of US midterm elections
Korean stocks started sharply lower Tuesday, weighed down by lingering concerns over massive spending on artificial intelligence (AI) infrastructure ahead of the U.S. midterm elections. The benchmark Korea Composite Stock Price Index (KOSPI) fell 143.89 points, or 2.46 percent, to 5,715.19 at the opening bell. Overnight, U.S. stocks closed mixed as investors were focused on the U.S. midterm elections on Tuesday (U.S. time). The tech-heavy Nasdaq…
(Seoul = Yonhap News) Reporter Lim Eun-jin = The KOSPI started lower on the 3rd.
The KOSPI index is showing a decline in the 3% range due to the burden of AI investment by U.S. tech stocks and concerns over financing. The simultaneous sharp decline of major semiconductor stocks, such as Samsung Electronics and SK Hynix, along with the deterioration of Kioxia's earnings, is negatively impacting the market. Although buying pressure from institutions and other corporations is flowing in, strong selling pressure from individual …
[Digital Daily Reporter Kang Ki-hoon] The KOSPI, which had rebounded by over 2% the previous day, plunged by more than 3% in just one day, falling to the 5,600 level. As U.S. tech and semiconductor stocks falter again, selling pressure is pouring into Samsung Electronics and SK Hynix. Simultaneous selling by foreign and institutional investors is also fueling the index's decline. According to the Korea Exchange on the 3rd, as of 9:14 AM, the KO…
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