Seoul stocks down late Tues. morning on tech losses
SEOUL, Aug. 4 (Yonhap) -- Seoul shares turned lower late Tuesday morning, revers...
Seoul's stock market experienced a late Tuesday morning decline, reversing early gains as technology stocks suffered amid uncertainty regarding the Middle East. The Korea Composite Stock Price Index (KOSPI) opened 1.5 percent higher but ended the day 11 points, or 0.18 percent, lower at 6,246.45. The index saw a significant drop of over 5 percent on Monday following an 18-percent surge on Friday.
Overnight, U.S. stocks rose, driven by Amazon.com Inc.'s 4.5 percent gain following strong earnings, which benefited companies reliant on artificial intelligence. The Dow Jones Industrial Average increased by 1.32 percent to 53,178.41, and the tech-heavy Nasdaq composite rose 2.13 percent to 25,913.90. Notable declines included Samsung Electronics (-1.77 percent) and SK hynix (-2.55 percent), while Hyundai Motor (-2.67 percent) and Korean Air (-0.19 percent) also saw reductions.
Conversely, Hanwha Aerospace (+8.71 percent) and Korea Aerospace Industries (+10.27 percent) were among the market's gainers.
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