Seoul shares open lower on Democratic Party victory in US midterm elections

What happened: South Korean stocks opened lower after the U.S. midterm elections ended with a Democratic Party victory, which raised concerns over tighter artificial intelligence regulations. Key numbers: KOSPI fell 103.71 points, or 1.82 percent, to 5,580.09 at the open. Dow Jones rose 3 percent, S&P 500 gained 1.6 percent, Nasdaq Composite added 1.4 percent. PHLX chip index fell 3.1 percent to a six-month low. Why it matters: Investors were concerned about stricter regulations on AI data centers by the new Democrats-led Congress, and the chip index drop reflected that worry. Coverage: 4 outlets in 24h

South Korean stocks opened lower after the U.S. midterm elections ended with a Democratic Party victory, which raised concerns over tighter artificial intelligence regulations.

Investors were concerned about stricter regulations on AI data centers by the new Democrats-led Congress, and the chip index drop reflected that worry.