Seoul:South Korean shares opened lower on Tuesday, impacted by declines in major technology stocks as investors sought to take profits from recent gains. This comes amid ongoing concerns regarding investments in the artificial intelligence (AI) value chain.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) fell by 34.44 points, or 0.6 percent, reaching 5,733.57 at the opening bell. This decline occurred despite overnight gains on Wall Street.
The KOSPI index had risen for two consecutive sessions following a sharp decline linked to concerns over AI-related sectors. Meanwhile, U.S. stocks showed a mixed performance overnight as technology shares rebounded from their steepest weekly drop since June. The Dow Jones Industrial Average saw a slight decrease of 0.07 percent, whereas the S&P 500 increased by 0.41 percent, and the tech-heavy Nasdaq Composite Index rose by 1.11 percent, closing at 26,430.89.