Seoul stocks open lower ahead of earnings and Fed decision
Briefing by News4U · First published
KOSPI fell 51.25 points, or 0.92 percent, to 5,499.05 at Monday's open as investors awaited third-quarter earnings from SK hynix and Samsung Electronics and the U.S. Federal Reserve's policy decision.
Seoul stocks opened lower Monday as investors awaited third-quarter earnings from major chipmakers and the U.S. Federal Reserve's monetary policy decision later this week amid rising oil prices, Yonhap Business reported. [1]
The benchmark KOSPI fell 51.25 points, or 0.92 percent, to 5,499.05 at the opening bell. The index gained 0.3 percent Friday but lost 2.08 percent for the week amid heavy foreign selling and volatility in semiconductor shares. [1]
Investors are awaiting earnings reports from SK hynix on Wednesday and Samsung Electronics on Thursday for clues about the outlook for artificial intelligence chip demand and memory prices. [1]
Sources
- Seoul stocks open lower ahead of earnings reports, Fed decision
Yonhap Business · · Full text