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Seoul Shares Open Higher Despite Wall Street Losses and AI Spending Concerns

Seoul shares opened higher Wednesday as tech stocks rebounded, despite Wall Street losses and lingering concerns over AI spending. The KOSPI rose 1.83% by 9:15 a.m.

AI News Feed · 2026-10-14 10:28

The gain followed a 5.46 percent drop the previous day, when technology shares fell amid renewed worries over heavy capital spending by large AI companies. U.S. stocks closed lower overnight. The Dow Jones Industrial Average declined 0.35 percent, and the Nasdaq declined 0.15 percent.

The PHLX chip index fell 0.23 percent, down for a fifth straight session. Broadcom CEO Hock Tan likened the current AI investment flow to "casino gambling."

In Seoul, technology shares led the advance. Samsung Electronics jumped 3.02 percent, and its chipmaking rival SK hynix climbed 2.36 percent. Internet giant Naver rose 1.18 percent, and leading mobile carrier SK Telecom vaulted 4.5 percent.

Automakers also moved higher. Kia, the second-largest carmaker, rose 1.39 percent, and its auto parts affiliate Hyundai Mobis advanced 2.87 percent.

The Korean won was trading at 1,338.50 won against the U.S. dollar, up 3.2 won from the close of the previous stock trading session.

Editor's Summary

Seoul shares opened higher Wednesday, led by technology stocks, after the KOSPI tumbled 5.46 percent a day earlier. The rebound came despite lower U.S. closes and continuing concern over AI capital spending, with Broadcom's CEO comparing AI investment flows to casino gambling. The Korean won strengthened slightly against the dollar.