Seoul shares open sharply lower on tech losses amid eased Mideast tensions
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. South Korean stocks…
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Summary
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap) South Korean stocks opened sharply lower Tuesday, dragged down by losses in tech shares following a selloff in chipmakers on Wall Street. Top carmaker Hyundai Motor dived 5.33 percent, and leading battery maker LG Energy Solution dropped 3 percent. Market bellwether Samsung Electronics slumped 7.68 percent, and its chipmaking rival SK hynix plunged 9.36 percent.
Furthermore, Hanmi Semiconductor, a leading chip equipment manufacturer, sank 8.26 percent, and SK Square, the parent of SK hynix, tumbled 9.58 percent. However, semiconductor shares were weak as investors remained skeptical about tech giants' heavy spending on artificial intelligence. Meanwhile, US President Donald Trump said Washington and Tehran were having "good talks," and there was a chance of a deal over the ongoing conflict, but he warned that the fighting would resume if the negotiations fail.
In addition, The PHLX chip index, a gauge of US semiconductor giants, extended its recent selloff, falling 2.2 percent.
Cross-referenced from 2 sources.
Factual coreconfirmed by several independent voices
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap) South Korean stocks opened sharply lower Tuesday, dragged down by losses in tech shares following a selloff in chipmakers on Wall Street.
reliability low1/2 sourcesTop carmaker Hyundai Motor dived 5.33 percent, and leading battery maker LG Energy Solution dropped 3 percent.
reliability low1/2 sourcesMarket bellwether Samsung Electronics slumped 7.68 percent, and its chipmaking rival SK hynix plunged 9.36 percent.
reliability low1/2 sourcesHanmi Semiconductor, a leading chip equipment manufacturer, sank 8.26 percent, and SK Square, the parent of SK hynix, tumbled 9.58 percent.
reliability low1/2 sourcesHowever, semiconductor shares were weak as investors remained skeptical about tech giants' heavy spending on artificial intelligence.
reliability low1/2 sourcesMeanwhile, US President Donald Trump said Washington and Tehran were having "good talks," and there was a chance of a deal over the ongoing conflict, but he warned that the fighting would resume if the negotiations fail.
reliability low1/2 sourcesThe PHLX chip index, a gauge of US semiconductor giants, extended its recent selloff, falling 2.2 percent.
reliability low1/2 sources
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