Seoul shares were trading sharply lower early Monday amid selling by retail and foreign investors.
As of 9:09 a.m., the KOSPI was trading at 5,650.05, down 80.69 points (1.41%) from the previous day. Retail investors and foreign investors are making net sales of 71.8 billion won and 58.2 billion won, respectively, while institutional investors are making net purchases of 127.1 billion won.
This follows a trend in which U.S. stock markets fell on Friday due to concerns over the profitability of AI (artificial intelligence), impacting domestic stock markets as well. On October 30 (local time), earnings from Amazon, Intel, and SanDisk led to market concerns regarding AI profitability and funding capacity, resulting in weakness such as a nearly 3% drop in the NASDAQ index.
As of now, Samsung Electronics is trading at 217,000 won, down 3.56%. SK hynix showed 1,404,000 won, down 0.99%.
Samsung Biologics (-2.56%), KB Financial Group (-2.38%), Samsung Electronics Preferred Shares (-2.35%), LG Energy Solution (-1.81%), SK Square (-1.56%), Samsung Electro-Mechanics (-1.51%), Samsung Life Insurance (-1.48%), and Hyundai Motor (-0.89%) are among the stocks declining.
The KOSDAQ index was trading at 718.07, down 6.31 points (0.87%). Retail investors and institutional investors are making net sales of 100 million won and 6.1 billion won, respectively, while foreign investors are making net purchases of 10.8 billion won.
Simtech (+1.59%), Jusung Engineering (+1.21%), Iotech (+0.39%), and Alteogen (+0.24%) are among the stocks rising.
EcoPro BM (-2.42%), EcoPro (-1.25%), Lino Industrial (-1.25%), Rainbow Robotics (-1.10%), HLB (-1.00%), and Wonik IPS (-0.56%) are among the stocks declining.
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