Seoul stocks open lower ahead of earnings reports, Fed decision
SEOUL, Oct. 26 (Yonhap) -- South Korean stocks opened lower Monday as investors ...
South Korean stocks began trading lower on Monday, with investors awaiting earnings reports from major chipmakers and the United States Federal Reserve's monetary policy decision. The KOSPI benchmark index fell 51.25 points, or 0.92%, to 5,499.05 at the opening bell. Although the index had gained 0.3% on Friday, it still lost 2.08% for the week due to significant foreign selling and volatility in semiconductor shares.
Investors are eagerly anticipating earnings reports from SK hynix on Wednesday and Samsung Electronics on Thursday, which could provide insight into the outlook for AI chip demand and memory prices.
Wall Street also closed lower on Friday, as rising oil prices and lingering concerns over returns on substantial AI investments dampened investor sentiment. Oil prices experienced a slight decline early Monday, even though geopolitical tensions resurfaced following U.S. President Donald Trump's suggestion that he might resume strikes against Iran.
Written by urgent.news from Yonhap News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
