Why did Seoul shares open sharply lower on Monday?

They tracked losses on Wall Street after hawkish comments from Fed chief Kevin Warsh last week raised the possibility of an imminent rate hike. Warsh said inflation remains a concern in his first major speech as Fed chair at the Jackson Hole symposium in Wyoming.

How low was the KOSPI after the market opened in Seoul?

The benchmark index was down 163.60 points, or 2.41 percent, to 6,625.28 at 9:15 a.m. It had opened 2.58 percent lower earlier in the session.

Which major stocks moved the most in Seoul trading?

Samsung Electronics fell 2.53 percent and SK hynix retreated 2.18 percent. Hyundai Motor dropped 0.88 percent and Hanwha Aerospace slipped 0.09 percent, while POSCO Holdings and SK Innovation were among the gainers.

Seoul shares open sharply lower on Fed chief's hawkish comments

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Summary

Seoul shares opened sharply lower Monday, tracking losses on Wall Street after hawkish comments from U.S. Federal Reserve chief Kevin Warsh raised the possibility of an imminent rate hike. The benchmark KOSPI was down 2.41 percent at 6,625.28 as of 9:15 a.m., after opening 2.58 percent lower. Most large-cap stocks fell, while the won traded at 1,377.70 per dollar.

Key Facts

The KOSPI was trading 163.60 points, or 2.41 percent lower, at 6,625.28 as of 9:15 a.m.
The index opened 2.58 percent down on Monday.
Samsung Electronics fell 2.53 percent and SK hynix declined 2.18 percent, while Hyundai Motor slipped 0.88 percent and Hanwha Aerospace shed 0.09 percent.
POSCO Holdings rose 0.15 percent and SK Innovation jumped 5.99 percent.
The Korean won was quoted at 1,377.70 won against the U.S. dollar, up 1.8 won from the previous stock trading session.

By Yonhap

Published Aug 31, 2026 9:24 am KST
Updated Aug 31, 2026 9:38 am KST

The benchmark KOSPI is displayed at a dealing room of Hana Bank in Seoul, Monday. Yonhap

Seoul shares opened sharply lower Monday, tracking losses on Wall Street amid the possibility of an imminent rate hike by the U.S. Federal Reserve caused by hawkish comments from its chief last week.

After opening 2.58 percent down, the benchmark Korea Composite Stock Price Index (KOSPI) trimmed earlier losses, trading 163.60 points, or 2.41 percent lower at 6,625.28, as of 9:15 a.m.

On Friday (U.S. time), the Dow Jones Industrial Average fell 0.02 percent, while the tech-heavy Nasdaq Composite declined 0.52 percent.

In his first major speech as Fed chair, Kevin Warsh warned that inflation remains a concern, leaving the door open to further interest rate hikes at its annual Jackson Hole symposium in Wyoming on Friday.

In Seoul, most large-cap stocks declined.

Market bellwether Samsung Electronics fell 2.53 percent, while its chipmaking rival SK hynix retreated 2.18 percent.

Top carmaker Hyundai Motor declined 0.88 percent and defense giant Hanwha Aerospace shed 0.09 percent.

Among gainers, steelmaker POSCO Holdings rose 0.15 percent and leading refiner SK Innovation jumped 5.99 percent.

The Korean won was quoted at 1,377.70 won against the U.S. dollar, up 1.8 won from the close of the previous stock trading session.

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