South Korean stocks started weakly on Friday, November 21, 2025, tracking overnight Wall Street losses amid renewed concerns over artificial intelligence (AI) stock valuations. The KOSPI index fell 3.42% in early trading. This came despite Nvidia's strong quarterly results.
South Korea's stock market opened weakly on the morning of Friday, November 21, 2025, amid renewed valuation concerns for artificial intelligence (AI) stocks and the aftermath of U.S. market declines. The benchmark KOSPI index fell 137.06 points, or 3.42%, to 3,867.79 in the first 15 minutes of trading.
The previous day, on November 20, the KOSPI had rebounded, adding 75.34 points or 1.92% to close at 4,004.85, driven by Nvidia's strong quarterly results. However, U.S. shares closed lower overnight, with the Dow Jones Industrial Average down 0.84% and the tech-heavy Nasdaq composite sinking 2.15%. Nvidia shares declined despite robust earnings, as investors grew cautious about the sharp recent upturn in AI-related stocks and their aggressive investment plans, compounded by mixed jobs data that dampened expectations for Federal Reserve interest rate cuts.
In Seoul, major tech shares led the declines. Market bellwether Samsung Electronics dipped 4.13%, and chip giant SK hynix retreated 7.88%. Leading battery maker LG Energy Solution slid 3.29%, nuclear power plant builder Doosan Enerbility sank 5.53%, and LG Chem fell 5.15%. Top automaker Hyundai Motor shed 1.34%, while its affiliate Kia edged down 0.18%. Leading shipbuilder HD Hyundai Heavy went down 3.6%, and rival Hanwha Ocean decreased 3.68%. Leading financial group KB Financial declined 0.58%, internet portal operator Naver lost 0.78%, and top steelmaker POSCO tumbled 2.8%.
The local currency was trading at 1,470.45 won against the U.S. dollar at 9:15 a.m., down 2.55 won from the previous session.
On November 20, Lee Sung-hoon, an analyst at Kiwoom Securities, said, "The KOSPI has fallen 4.3 percent so far in November, and the recent correction has eased valuation burdens." He added, "Considering that the earnings cycle of domestic listed companies is still under way, we believe the upward momentum of the local market remains intact despite the short-term volatility."
