South Korean stocks experienced a downturn at the opening bell on Friday, trading nearly 1 percent lower as investors appeared to engage in profit-taking after a strong performance in the preceding session.
Within the first 15 minutes of trading, the benchmark Korea Composite Stock Price Index (KOSPI) declined by 56.98 points, or 0.9 percent, reaching 6,250.29.
On Thursday, the KOSPI had surged by more than 3 percent, closing at a record high above the 6,300 mark, signaling robust market activity.
In overnight trading, US stocks presented a mixed picture. The Nasdaq Composite experienced a slide of 1.2 percent, influenced by a 5.5 percent drop in US chipmaker Nvidia Corp.’s shares, despite the company’s strong earnings report that had previously spurred a rally in semiconductor stocks.
In the Seoul market, a majority of large-cap shares traded in negative territory.
Technology heavyweight Samsung Electronics saw a decrease of 0.69 percent, while its competitor SK hynix fell by 2.46 percent.
Leading automaker Hyundai Motor experienced a loss of 0.33 percent, and prominent battery manufacturer LG Energy Solution decreased by 0.59 percent.
