Seoul shares extended losses late Thursday morning as foreign investors offloaded major chipmakers. The KOSPI fell 1.12 percent to 3,987.46 as of 11:20 a.m. This came after a gain the previous day driven by positive third-quarter GDP data.
Seoul's stock market opened lower on Thursday despite gains on Wall Street. The benchmark KOSPI lost 0.72 percent to 4,007.06 in the first 15 minutes of trading and further declined 1.12 percent to 3,987.46 by 11:20 a.m., driven by foreign selling of major chipmakers. Samsung Electronics fell 1.05 percent, while SK hynix dropped 3.26 percent.
In contrast, automakers gained ground, with Hyundai Motor surging 5.63 percent and Kia rising 0.93 percent. LG Energy Solution decreased 1.91 percent, and Hanwha Aerospace dipped 2.19 percent. The local currency traded at 1,471.3 won per U.S. dollar as of 11:15 a.m., up 3.3 won from the prior session.
The previous day, on December 3, the KOSPI rose 1.04 percent to close at 4,036.3, boosted by a revised third-quarter GDP growth of 1.3 percent—the fastest in nearly four years. It marked the first close above 4,000 since November 20. Daishin Securities analyst Lee Kyoung-min said, "Amid tariff issues and global uncertainties, the South Korean economy has shown signs of recovery, prompting stronger demand for risky assets."
Meanwhile, the KOSDAQ market's capitalization surpassed 500 trillion won for the first time intraday, fueled by expectations of government market-boosting measures. The market's volatility may persist amid global trade tensions and domestic economic indicators.
