Seoul shares open 1.86% higher despite US chip sell-offs - The Korea Times

Financial data on the benchmark Korea Composite Stock Price Index is displayed on a screen inside the dealing room of Hana Bank in central Seoul, Wednesday. Yonhap

Korean stocks opened higher Wednesday despite massive sell-offs in U.S. semiconductor shares.

After opening 1.86 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) further added 267.56 points, or 3.26 percent, to 8,471.4 as of 9:15 a.m.

Overnight, Wall Street closed lower as sharp declines in memory chip and semiconductor stocks weighed on investor sentiment amid broader concerns about the artificial intelligence sector.

The Dow Jones Industrial Average slipped 0.09 percent. The S&P 500 dropped 1.44 percent, while the tech-heavy Nasdaq Composite Index fell 2.21 percent.