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Seoul shares open 1.6% lower on tech losses

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By Yonhap
  • Published Jul 7, 2026 9:27 am KST
Officials work at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap

Officials work at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap

Seoul shares opened lower Tuesday, bucking overnight gains on Wall Street, on profit-taking after Samsung Electronics released its preliminary second-quarter earnings estimate.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 130.85 points, or 1.6 percent, to 7,920.48 at the opening bell.

Local technology stocks fell on profit-taking after Samsung Electronics estimated its April-June operating profit at 89.4 trillion won ($58.4 billion), beating market forecasts.

The estimate reflects provisions for employee bonuses. Excluding the provisions, operating profit is estimated at around 100 trillion won.

Market bellwether Samsung Electronics lost 3.9 percent, while chip giant SK hynix declined 1.2 percent ahead of its planned $29 billion U.S. listing later this week.