Seoul stocks open lower as disappointing tech earnings trigger AI spending woes
강재은
2026-11-02 09:03:02
SEOUL, Nov. 2 (Yonhap) -- Seoul stocks opened lower Monday weighed down by declines in U.S. tech shares amid concerns over massive investments in artificial intelligence (AI).
The benchmark Korea Composite Stock Price Index (KOSPI) opened down 92.97 points, or 1.62 percent, to 5,637.77.
Major stock indexes on Wall Street closed lower Friday (U.S. time), following disappointing quarterly earnings from Intel and Amazon, which amplified growing concerns over the sustainability of AI spending.
The S&P500 fell 1.82 percent, and the tech-heavy Nasdaq declined 2.86 percent.
On the Middle East front, Iranian negotiators were in Doha on Sunday (local time) for a third consecutive day of talks with Qatari mediators to end the U.S.-Iran war.
Investors are also closely following the U.S. jobs report and the U.S. midterm elections set to take place Tuesday.
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