Seoul shares dip over 1% ahead of earnings reports, Fed decision

What happened: Seoul shares closed lower, tracking Wall Street losses, as investors stayed cautious ahead of third-quarter earnings from major chipmakers and the Fed rate decision. Key numbers: KOSPI fell 80.83 points, or 1.46 percent, to 5,469.47. Volume was 190.46 million shares worth 12.01 trillion won. Decliners led 790 to 101. Foreigners sold a net 695.5 billion won. Why it matters: Investors are awaiting SK hynix and Samsung Electronics earnings for clues on AI chip demand and memory prices, and the Fed is widely expected to hold rates amid persistent inflation. Coverage: 3 outlets in 24h

Seoul shares closed lower, tracking Wall Street losses, as investors stayed cautious ahead of third-quarter earnings from major chipmakers and the Fed rate decision.

Investors are awaiting SK hynix and Samsung Electronics earnings for clues on AI chip demand and memory prices, and the Fed is widely expected to hold rates amid persistent inflation.