Business · Markets · 2 hrs ago
KOSPI falls at the open despite gains on Wall Street
South Korea’s KOSPI opened lower on Oct.
22 despite gains in New York stocks the previous session.
SpaceX helped renew investor interest in artificial intelligence, and US shares ended higher.
The KOSPI started the day at 5,670.11, down 1.14% from its previous close.
By 9:05 a.m., it had recovered some ground to 5,699.47, but was still down 0.63%.
The figures show that Wall Street’s gains did not lift the Korean index at the open.
The available information gives no further update on how the KOSPI traded later in the session.
The KOSPI opened 1.14% lower at 5,670.11 on October 22, despite gains on Wall Street.
By 9:28 a.m. local time, it had narrowed its decline to 0.94%, at 5,681.90.
Yonhap attributed the fall mainly to profit-taking after the index rose 3.29% the previous day.
The session was mixed across stocks, with Samsung Electronics and SK Hynix lower while Samsung Electro-Mechanics gained.
The KOSDAQ also fell, widening its decline to 1.79% by 9:28 a.m.
- Who
- South Korean stock investors and companies listed on the KOSPI.
- What
- The KOSPI opened lower, down 1.14%, despite gains in US markets overnight.
- When
- October 22, 2026; the reports describe trading during the morning.
- Where
- South Korea's stock market.
- Why
- Profit-taking followed the KOSPI's 3.29% rise the previous day. The sources also describe lingering uncertainty about AI investment.
This story does not have two clearly opposing sides.
The KOSPI rose 3.29%.
All three major US stock indexes advanced.
The KOSPI opened at 5,670.11, down 1.14% from the previous close.
The KOSPI stood at 5,681.90, down 0.94%, after narrowing its earlier loss.
- KOSPI opening level
- 5,670.11
- Opening decline
- 65.55 points, or 1.14%
- KOSPI at 9:28 a.m.
- 5,681.90, down 0.94%
- KOSDAQ at 9:28 a.m.
- 778.55, down 1.79%
- Previous day's KOSPI rise
- 3.29%
What people are saying
Concerns about AI have eased since SpaceX disclosed its results, but uneasiness remains. Meta did not disclose its capital expenditure plans for next year.