SEOUL, Nov. 9 (Yonhap) -- Seoul stocks bucked gains on Wall Street to open lower Monday as investors dumped tech heavyweights.
The benchmark Korea Composite Stock Price Index (KOSPI) kicked off trading down 25.49 points, or 0.5 percent, to 5,034.2.
Major stock indexes in the U.S. closed higher Friday (local time), led by a rebound in chipmakers despite fears of tighter artificial intelligence (AI) regulations after the Democrats' midterm sweep linger.
The S&P 500 added 0.31 percent, while the tech-heavy Nasdaq rose 1.09 percent.
Investors are now turning their attention to the Federal Reserve for cues on the next U.S. policy directions.
"The local market is expected to rebound sharply should AI demand and the profit outlook for semiconductors be sustained as it is severely undervalued relative to its earnings," said Seo Sang-yong, an analyst at Mirae Asset Securities.
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