Seoul stocks open lower on Wall Street losses, AI concerns
Samsung Electronics and SK hynix led declines as renewed doubts over artificial intelligence returns hit chip stocks after Wall Street’s tech sell-off.
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8 Articles
Global Market Today: Asian stocks slide as tech earnings disappoint, AI fears mount
The Kospi Index in South Korea — a key barometer of the AI trade — fell over 3% with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. declining. That dragged the MSCI Asia Pacific Index down 0.3%.
연합뉴스-Yonhap News Agency
korean-vibe.com(LEAD) Seoul stocks open lower on Wall Street losses, AI concerns
(ATTN: UPDATES with latest details in paras 2, 7-11; CHANGES photo) SEOUL, Oct. 30 (Yonh...
Seoul stocks open lower on Wall Street losses, AI concerns
Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as renewed concerns over the sustainability of the artificial intelligence (AI) boom weighed on investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) lost 177.31 points, or 2.99 percent, to 5,760.35 at the opening bell. The index fell 1.24 percent in the previous session on profit-taking in heavyweight chip stocks, despite Samsung Electronics' reco…
The fallout from the stock price plunge of Google's parent company, Alphabet, spread to the domestic stock market, causing the KOSPI to plummet in early trading on the 30th. As of 9:10 AM, the KOSPI was trading at 5,695.03, down 242.63 points (4.09%) from the previous day. The index opened at 5,760.35, down 177.31 points (2.99%).
The KOSPI index opened with a sharp decline of over 3% on the 30th. This is attributed to Alphabet's disappointing earnings from the previous day, which dampened tech-centric investor sentiment in the New York stock market by fueling concerns over AI investment costs. The KOSPI index opened at 5,760.35, down 177.31 points (2.99%) from the previous trading day. The KOSDAQ index also fell 15.47 points (2.05%) compared to the previous day.
[Digital Daily Reporter Kang Ki-hoon] The KOSPI fell nearly 4% in early trading, dropping to the 5,700 level following the plunge in U.S. tech stocks. Concerns regarding the profitability of artificial intelligence (AI) investments have intensified again as stock prices of Amazon and Intel—following Google's parent company Alphabet—plunged after earnings announcements. Samsung Electronics and SK Hynix are also showing weakness in tandem. Accord…
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