Seoul Shares Pare Gains as Foreigners Sell Tech Stocks

On Monday morning in Seoul, South Korea's main stock market opened higher but then lost some of those gains.

People from other countries were selling big technology company shares, even though local buyers were trying to snap up cheaper stocks.

The KOSPI, which is the name of Seoul's main stock index, was still up a little compared to Friday.

Big companies like Samsung Electronics and SK hynix, which make computer chips, were the main focus of trading.

The Korean won, which is South Korea's money, got slightly weaker against the U.S. dollar.

Over the weekend, American stock markets had gone up after good jobs reports were released.

Meanwhile, South Korea's president was planning a meeting to talk about big investments in chip factories and AI data centres.

The meeting would also discuss how to make sure there is enough electricity and water for the new factories.

This shows how important technology and computer chips are to South Korea's economy.