Seoul Stocks Open Lower as US Techs Tumble
South Korean shares opened lower on Friday, tracking a slump in major US techs overnight.
The benchmark Korea Composite Stock Price Index fell 8.65 points, or 0.21 percent, to 4,078.24 in the first 15 minutes of trading.
Overnight, the tech-heavy Nasdaq composite fell 1.57 percent and the S&P 500 shed 0.99 percent. The Dow Jones Industrial Average lost 0.23 percent.
Major US tech firms, including Microsoft and Meta, fell amid woes over their financial burden on artificial intelligence investment. Nvidia also moved down 2 percent.
In Seoul, top tech giant Samsung Electronics fell 0.19 percent, and SK hynix shed 1.94 percent. Battery makers lost ground as well, with LG Energy Solution falling 0.72 percent and Samsung SDI decreasing.
No specific quote available.
Author's summary: Seoul stocks fell due to US tech slump.