Seoul:Shares in Seoul opened significantly lower on Monday, influenced by a technology-centered sell-off on Wall Street. This decline comes amid growing concerns about whether substantial investments in artificial intelligence infrastructure will yield adequate returns.

According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) opened 3.17 percent lower. By 915 a.m., it had narrowed losses, trading down 95.95 points, or 1.69 percent, at 5,572.10. On Friday, the KOSPI had risen 2.05 percent to close at 5,668.05, ending a seven-session losing streak during which it fell 6.3 percent.

On the same day in the U.S., the Dow Jones Industrial Average decreased by 0.34 percent, while the Nasdaq Composite, known for its tech stocks, dropped 2.14 percent. Investors are approaching earnings reports from major companies such as Tesla and Meta Platforms with caution, along with the looming U.S. midterm elections on November 3, amid ongoing uncertainty regarding interest rate trends.

In Seoul, technology stocks were the primary contributors to the decline, with Samsung Electronics dropping 1.28 percent and SK hynix falling 2.83 percent. Other major companies also saw losses, with Hyundai Motor down 1.12 percent and HD Hyundai Heavy Industries declining by 3.7 percent. However, some stocks gained, including Korean Air, which rose 1.14 percent, and POSCO Holdings, which increased by 0.51 percent.

The Korean won was trading at 1,334.15 against the U.S. dollar as of 915 a.m., marking an increase of 2.35 won from the previous session's close.