Seoul stocks open sharply lower after US tech sell-off

What happened: Seoul shares opened sharply lower Monday after a technology-centered sell-off on Wall Street, with concerns over whether heavy AI infrastructure investment can generate sufficient returns. Key numbers: KOSPI opened 3.17 percent lower, then traded down 95.95 points, or 1.69 percent, at 5,572.10 as of 9:15 a.m. It closed Friday at 5,668.05, up 2.05 percent. Why it matters: Tech stocks led the Seoul decline. Analysts cited caution ahead of earnings from Tesla and Meta Platforms this week and the Nov. 3 US midterm elections, amid uncertainty over the interest rate outlook.

Seoul shares opened sharply lower Monday after a technology-centered sell-off on Wall Street, with concerns over whether heavy AI infrastructure investment can generate sufficient returns.

Tech stocks led the Seoul decline. Analysts cited caution ahead of earnings from Tesla and Meta Platforms this week and the Nov. 3 US midterm elections, amid uncertainty over the interest rate outlook.