Seoul stocks open lower ahead of earnings reports, Fed decision

What happened: South Korean stocks opened lower Monday as investors awaited third-quarter earnings from major chipmakers and the US Federal Reserve's policy decision later this week. Key numbers: KOSPI opened 0.92 percent lower and traded down 24.45 points, or 0.46 percent, at 5,524.85 as of 9:15 a.m. The index fell 2.08 percent for the week. Why it matters: Earnings from SK hynix on Wednesday and Samsung Electronics on Thursday are awaited for clues on AI chip demand and memory prices, while the Fed is widely expected to hold rates steady amid persistent inflationary pressures. Coverage: 3 outlets in 24h

South Korean stocks opened lower Monday as investors awaited third-quarter earnings from major chipmakers and the US Federal Reserve's policy decision later this week.

Earnings from SK hynix on Wednesday and Samsung Electronics on Thursday are awaited for clues on AI chip demand and memory prices, while the Fed is widely expected to hold rates steady amid persistent inflationary pressures.