(LEAD) Seoul shares open lower amid persistent AI woes

In Seoul, the stock market opened lower on Thursday, as investors grappled with concerns surrounding the profitability of artificial intelligence (AI) infrastructure investments following a sharp rise on the previous trading session. The benchmark Korea Composite Stock Price Index (KOSPI) fell 24.68 points, or 0.46 percent, to 5,710.98 by 9:15 a.m. local time.

Overnight, U.S. stocks closed mixed, with AI-related shares rebounding after SpaceX reported strong quarterly results. The Dow Jones Industrial Average gained 0.69 percent, while the S&P 500 increased by 0.58 percent and the tech-heavy Nasdaq Composite rose 1.05 percent. Meta Platforms, which delivered solid earnings, announced it would continue to invest heavily in the AI sector, potentially boosting investor confidence in related companies.

Nevertheless, most large-cap shares in Seoul started the day on a downward trajectory. Samsung Electronics, a market bellwether, managed to edge up 0.34 percent after initially opening lower, while its chipmaking rival, SK hynix, slipped 0.31 percent. Battery manufacturer LG Energy Solution suffered a decline of 3.65 percent, and Samsung Electro-Mechanics, an electronics component subsidiary of Samsung Electronics, surged 4.79 percent.

At 9:15 a.m., the Korean won was trading at 1,326.5 won per U.S. dollar, marking a 0.5-won increase from the previous day's closing figure.