Seoul: South Korean shares opened lower Friday, tracking a slump in major U.S. techs overnight. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.65 points, or 0.21 percent, to 4,078.24 in the first 15 minutes of trading.
According to Yonhap News Agency, the tech-heavy Nasdaq composite fell 1.57 percent overnight, while the S and P 500 shed 0.99 percent and the Dow Jones Industrial Average lost 0.23 percent. Major U.S. tech firms, including Microsoft and Meta, fell amid concerns over their financial burden due to artificial intelligence investments. 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 also lost ground, with LG Energy Solution falling 0.72 percent and Samsung SDI decreasing 0.46 percent.
The local currency was quoted at 1,427.9 won against the greenback as of 9:15 a.m., down 1.4 won from the previous session.