Seoul market slips as chip earnings and Fed decision loom
South Korean shares opened lower, with the KOSPI down 51.25 points, as investors await chipmakers' quarterly results and the Federal Reserve's policy move.
On Monday, the Korea Composite Stock Price Index opened at 5,499.05, down 51.25 points, after a 0.3 percent rise on Friday and a 2.08 percent weekly decline driven by foreign selling and semiconductor volatility. Investors are focused on third-quarter earnings from major chipmakers, with SK hynix reporting on Wednesday and Samsung Electronics on Thursday, seeking insight into AI chip demand and memory price trends. The U.S. Federal Reserve's upcoming policy decision adds further uncertainty to global markets.
Oil prices, which had reached a six-month high, edged lower but remain a factor in market sentiment. Geopolitical tension resurfaced after remarks by Donald Trump about possible renewed strikes on Iran, influencing investor nerves.
Why it matters
The market dip reflects investor sensitivity to tech earnings and upcoming U.S. monetary policy, which could affect global finance.
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