Seoul stocks buck gains on Wall Street to open lower

Seoul's stock market opened on a lower note on Monday, defying the gains seen on Wall Street the previous day. The Korea Composite Stock Price Index (KOSPI) fell 0.63 percent to 5,028.01 points at 9:15 a.m. Investors were selling off tech giants, possibly due to concerns over tighter artificial intelligence regulations following the Democrats' midterm victory.

In the United States, major stock indexes managed to close higher on Friday, boosted by a bounce back in chipmakers despite growing worries about specific AI restrictions. The S&P 500 added 0.31 percent, while the tech-focused Nasdaq rose 1.09 percent.

The tech industry's uncertainty was highlighted by Nvidia Corp.'s announcement of an independent investigation into allegations that its CEO, Jensen Huang, was targeted by a Chinese spy. Investors are also eagerly awaiting cues from the Federal Reserve regarding future U.S. policy directions.

In Seoul, most large-cap shares closed lower. Samsung Electronics managed a slight gain of 0.26 percent, while SK hynix declined 0.09 percent. Hyundai Motor and Hanwha Aerospace both saw declines of 0.89 percent and 3.33 percent, respectively. Financial firm KB Financial also suffered a loss of 1.13 percent.

The Korean won was trading at 1,360 won per U.S. dollar as of 9:15 a.m., marking a 3 won increase from the previous trading session's close.