(LEAD) Seoul shares fall for 6th day on renewed AI concerns ahead of U.S. inflation data

South Korean stocks continued their six-day decline on Wednesday, Oct. 14, driven by lingering concerns about excessive spending on artificial intelligence (AI) and a cautious market stance ahead of U.S. inflation data. The Korea Composite Stock Price Index (KOSPI) fell 26.54 points, or 0.44 percent, to 6,008.81, marking the sixth consecutive day of losses.

The index had previously dropped by 5.46 percent the previous day and opened higher by 0.44 percent following a media interview by New York Fed President John Williams, who expressed no need for further monetary tightening in the coming year. However, this optimism was short-lived as the gains were wiped out by ASML's lower-than-expected sales outlook.

The Dutch tech giant, a key supplier to chipmakers like Samsung Electronics, reported strong earnings for Q3 but fell short of market expectations with its revised 2026 sales outlook, which saw a 84 percent surge in its stock price. Seo Sang-young, a senior analyst at Mirae Asset Securities, noted that the KOSPI erased all of its gains post-ASML's earnings report.

Trade volume was moderate, with 350.8 million shares valued at 19.9 trillion won ($14.9 billion), where gainers outnumbered decliners 502 to 369. Foreign investors and individuals sold stocks worth 1.18 trillion won and 309.3 billion won, respectively, while institutions netted a purchase of 808.3 billion won. Semiconductor shares fell as SK hynix dropped 1.66 percent to 1.42 million won, and Hanmi Semiconductor tumbled 5.02 percent to 217,500 won.

Samsung Electronics, an industry leader, remained flat at 232,000 won. Bank shares were weak, with Hana Financial Group retreating 2.25 percent to 121,600 won, and KB Financial Group declining 1.97 percent to 159,200 won. Major retailers Lotte Shopping and Samyang Foods, known for its Buldak ramyeon series, dropped 4.47 percent and 2.47 percent, respectively.

In contrast, battery maker LG Energy Solution rose 2.93 percent to 422,000 won, and oil refinery SK Innovation jumped 4.08 percent to 163,200 won. Leading production studio CJ ENM soared 6.9 percent to 37,950 won, and cosmetics manufacturer APR climbed 4.06 percent to 294,500 won. The Korean won strengthened against the U.S. dollar, closing at 1,338.3 won, up 6.8 won from the previous session's close.