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Seoul shares slide as AI concerns spur tech profit-taking

KOSPI fell 2.26% to 5,637.43 by 9:15 a.m. Tuesday as tech stocks slid amid AI investment concerns and profit-taking.

AI News Feed · 2026-10-20 10:13

After opening 0.6 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 130.58 points, or 2.26 percent, to 5,637.43 as of 9:15 a.m. The index had opened at 5,733.57, down 34.44 points from the previous session, bucking a mixed close on Wall Street.

The KOSPI had risen for two consecutive sessions before Tuesday, following a sharp drop tied to worries over AI-related sectors. From Oct. 6 to Thursday, it plunged a combined 20.7 percent over seven trading sessions.

Overnight, U.S. stocks ended mixed as technology shares rebounded from their steepest weekly drop since June. The Dow Jones Industrial Average edged down 0.07 percent, while the S&P 500 rose 0.41 percent and the tech-heavy Nasdaq Composite gained 1.11 percent to finish at 26,430.89.

In Seoul, technology stocks led the decline. Market bellwether Samsung Electronics fell 1.38 percent, chipmaking rival SK hynix dropped 4.07 percent and Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, shed 2.22 percent.

The Korean won was trading at 1,326.2 won against the U.S. dollar at 9:15 a.m., up 6.9 won from the close of the previous stock trading session.