(LEAD) stocks-open

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SEOUL, Oct. 30 (Yonhap) -- South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as renewed concerns over the sustainability of the artificial intelligence (AI) boom weighed on investor sentiment.

After opening 2.99 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended its earlier losses to trade lower 228.43 points, or 3.85 percent, to 5,709.23 as of 9:15 a.m.

The index fell 1.24 percent in the previous session on profit-taking in heavyweight chip stocks, despite Samsung Electronics' record quarterly earnings.

Overnight, Wall Street shares retreated, led by a sell-off in technology shares.

Google parent Alphabet plunged more than 12 percent after its third-quarter revenue rose 25 percent on-year to $127.58 billion but missed market expectations, raising concerns over returns on massive AI investments.

The tech-heavy Nasdaq Composite Index shed 1.38 percent, while the Philadelphia Semiconductor Index fell 1.4 percent, weighing on sentiment toward South Korean chipmakers.

KOSPI heavyweights traded lower.

Top market cap Samsung Electronics fell 3.66 percent, and chip giant SK hynix surrendered 6.82 percent.

Leading automaker Hyundai Motor slipped 2.39 percent after lowering its annual sales target and investment plans amid a challenging business environment.

Defense firm Hanwha Aerospace slumped 7.76 percent after reporting weaker-than-expected third-quarter earnings due to delays in deliveries of K9 self-propelled howitzers to Poland.

The Korean won was trading at 1,339.2 won against the U.S. dollar as of 9:15 a.m., up 0.3 won from the previous stock trading session's close.

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