In brief
Seoul's KOSPI fell 0.89% to 5,679.74 following disappointing earnings from Intel and Amazon, reflecting a global tech slump and investor unease over AI spending. Major Korean tech giants like Samsung and SK Hynix also slipped, while the won weakened slightly against the dollar.
Seoul’s main stock index, the KOSPI, opened lower on Monday after U.S. tech giants Intel and Amazon posted weaker than expected earnings, raising fears that large amounts of money have already been spent on artificial intelligence projects.
At 9:15 a.m. local time, the KOSPI was 5,679.74, down 51 points or 0.89 percent from the previous close.
The drop mirrored similar declines in the United States, where the S&P 500 fell 1.82 percent and the Nasdaq dipped 2.86 percent after the earnings reports.
Financial markets in Seoul reflected the global tech slowdown. Samsung Electronics slid 2.89 percent, SK Hynix fell 0.63 percent, LG Energy Solution retreated 0.76 percent, Hyundai Motor slid 0.18 percent, and KB Financial dipped 2.77 percent.
The Korean won was trading at 1,335.2 won per U.S. dollar as of 9:15 a.m., down 0.9 won from the close of the previous session.
Investors remain cautious, observing whether the AI spending boom can be sustained amid tighter earnings from the industry's biggest names.
