With Iran war talks stuck in a deadlock, the KOSPI opened slightly lower. The U.S. market's tech-led decline after renewed concerns about OpenAI's revenue also appeared to weigh on Korea's market, but the losses were limited. Foreign investors, however, continued net selling.
On the 29th, the KOSPI opened at 6,619.00, down 22.02 points, or 0.33%, from the previous day. In the Korea Exchange, foreigners were net sellers, but the selling pressure was not intense. The index's early losses narrowed at one point, but as of 9:20 a.m., a slight decline was continuing.
The KOSDAQ also started slightly lower but rebounded early in the session. Opening at 1,213.28, down 2.3 points, or 0.19%, from the previous day, the KOSDAQ has been fluctuating around the flat line. On the KOSDAQ, both foreigners and institutions were net buyers.
Major U.S. indexes closed lower on the previous day. As news spread that OpenAI's revenue improvement was slow, the market appeared to pause for breath. Profit-taking emerged mainly in AI and semiconductor-related stocks, and the market ended lower led by tech shares.
Nvidia fell 1.6% on concerns about the sustainability of AI infrastructure investment after OpenAI missed its sales and user targets. In the wake of this, Samsung Electronics and SK hynix were also under adjustment. However, SK hynix pared intraday losses and moved around the flat line.