Seoul shares opened sharply lower Tuesday as U.S. technology stocks fell overnight and investors awaited Nvidia’s upcoming earnings release. The KOSPI was down 244.84 points, or 3.66 percent, at 6,452.12 by 9:15 a.m. Technology shares led the decline, with Samsung Electronics and SK hynix both falling sharply. The won traded at 1,380.00 against the U.S. dollar, up 3.2 won from the previous session.
The benchmark KOSPI and the won-dollar exchange rate are displayed at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
Seoul shares opened sharply lower Tuesday, following overnight losses in U.S. technology shares, as investors remained cautious ahead of key events, including the upcoming earnings release from U.S. chip giant Nvidia.
After opening 2.4 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended its losses, trading 244.84 points, or 3.66 percent, lower at 6,452.12 as of 9:15 a.m.
The index fell more than 3 percent in the previous session on a sharp decline in chipmakers, such as Samsung Electronics, amid renewed concerns over the profitability of artificial intelligence (AI)-related investments.
