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

South Korean stocks experienced their sixth consecutive day of decline on Wednesday, as investors remained wary amidst ongoing concerns about excessive spending on artificial intelligence (AI). The Korean won appreciated against the US dollar during the trading session. The benchmark Korea Composite Stock Price Index (KOSPI) experienced a drop of 26.54 points, or 0.44%, bringing the index to 6,008.81. The KOSPI has been on a downward trend since Tuesday of the previous week, with a significant 5.46% drop the day prior.

The index briefly opened 0.44% higher following a media interview by John Williams, the president of the New York Fed, who expressed no need for further monetary tightening in the coming year. However, this initial gain was quickly negated by ASML, a Dutch tech giant that provides chip-manufacturing machines to major chipmakers, including Samsung Electronics.

ASML released earnings for the third quarter, yet its revised sales outlook for 2026 failed to meet market expectations, despite a staggering 84% increase in its stock price throughout the year.

Seo Sang-young, a senior analyst at Mirae Asset Securities, commented on the situation, stating that investors are currently awaiting the release of U.S. consumer prices data later in the day.