Seoul stocks opened lower Monday as investors took profits ahead of Nvidia’s earnings release. The benchmark KOSPI fell 0.73 percent to 6,862.18 in the first minute of trading after closing above 6,900 on Friday. Market participants were also watching the Jackson Hole meeting, the U.S. Federal Reserve, and the Bank of Korea policy meeting this week. Samsung Electronics fell while SK hynix rose, and the won strengthened against the U.S. dollar.
A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the KOSPI and the Kosdaq, Monday. Yonhap
Seoul stocks opened lower Monday, as investors sat on the sidelines ahead of major events, including the upcoming earnings release from U.S. chip giant Nvidia.
The benchmark Korea Composite Stock Price Index (KOSPI) was down 0.73 percent, or 50.77 points, at 6,862.18 in the first 1 minute of trading.
After closing above 6,900 points on Friday, the index lost ground as investors locked in gains from large-cap chip stocks as they closely follow the upcoming earnings release from Nvidia for hints on the future direction of the artificial intelligence (AI) market.
