Seoul stocks buck gains on Wall Street to open lower
Summary
Seoul stocks opened lower Monday as investors sold technology heavyweights, with the KOSPI down 0.63 percent to 5,028.01 points as of 9:15 a.m. U.S. indexes had closed higher Friday, led by a rebound in chipmakers. Investors were weighing uncertainty around Nvidia and following Federal Reserve moves for clues about U.S. policy. The won traded at 1,360 per dollar, up 3 won from the previous session’s close.
Key Facts
- The S&P 500 rose 0.31 percent Friday, while the Nasdaq gained 1.09 percent.
- Nvidia announced an independent investigation into allegations that CEO Jensen Huang was targeted by a Chinese spy.
- Samsung Electronics edged up 0.26 percent, while SK hynix slipped 0.09 percent.
- Hyundai Motor fell 0.89 percent, Hanwha Aerospace declined 3.33 percent, and KB Financial lost 1.13 percent.

The KOSPI index is displayed at a dealing room of Hana Bank in Seoul, Monday. Yonhap
Seoul stocks bucked gains on Wall Street to open lower Monday as investors dumped tech heavyweights.
The benchmark Korea Composite Stock Price Index (KOSPI) was down 31.68 points, or 0.63 percent, to 5,028.01 points, as of 9:15 a.m.
Major stock indexes in the U.S. closed higher Friday (local time), led by a rebound in chipmakers despite fears of tighter artificial intelligence (AI) regulations after the Democrats' midterm sweep linger.
The S&P 500 added 0.31 percent, while the tech-heavy Nasdaq rose 1.09 percent.
Investors are digesting fresh uncertainties surrounding Nvidia Corp. after the company announced it has launched an independent investigation into allegations its chief Jensen Huang was targeted by a Chinese spy.
They are also closely following the moves from the Federal Reserve for cues on the next U.S. policy directions.
In Seoul, most large-cap shares were trading lower.
Chip giant Samsung Electronics edged up 0.26 percent, while SK hynix inched down 0.09 percent.
Carmaker Hyundai Motor shed 0.89 percent, defense giant Hanwha Aerospace fell 3.33 percent, and financial firm KB Financial declined 1.13 percent.
The Korean won was quoted at 1,360 won against the U.S. dollar as of 9:15 a.m., up 3 won from the previous trading session's close.
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