KOSPI falls 0.52% as Seoul tech stocks sell off after AI caution calls

  • KOSPI declined as investors sold technology heavyweights after AI leaders urged slower development.
  • KOSPI opened at 6,659.25 before falling 0.52% to 6,649.68 by 9:16 a.m.
  • U.S. 10-year Treasury yields reached 5%, while investors awaited the Federal Reserve meeting.

South Korea’s KOSPI opened down 0.38% at 6,659.25 on Tuesday and fell to 6,649.68, or 0.52%, by 9:16 a.m. Investors sold technology heavyweights after artificial intelligence leaders urged the industry to slow development and proceed more cautiously. SK Hynix dropped 6.35% and Samsung Electronics declined 4.05% in early trading. U.S. stocks closed lower overnight, with the S&P 500 down 0.48% and the Nasdaq off 0.56%, while rising 10-year Treasury yields reached the 5% threshold. Investors are also monitoring the Federal Reserve’s policy meeting this week. Japan’s Nikkei 225 opened 0.48% lower at 63,190.37. Aftermarket trading volume on Monday reached 1.87 trillion won ($1.39 billion), or about 8.03% of official-session volume, according to the Korea Exchange.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.