Seoul: Seoul stocks took a breather Friday after enjoying a surge for the past six consecutive days, as investors cashed out their gains built on an artificial intelligence (AI) boom amid revived Iran uncertainties. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 11.42 points, or 0.13 percent, to 9,052.42 after rising as high as 9,385.59.

According to Yonhap News Agency, the index opened sharply higher on a chip rally but temporarily slipped into negative territory in the afternoon. This downturn came on the heels of news that planned talks following up on the deal to end the U.S.-Iran war had been postponed. The White House announced that Vice President J.D. Vance was delaying his planned trip to Switzerland for direct talks with Iran, contributing to investor caution.

Lee Kyoung-min, an analyst at Daishin Securities, indicated that investors are anticipating a chip bottleneck, which could push demand and prices higher, potentially aiding stock prices in the future. Despite the current downturn, there remains optimism that the semiconductor sector could drive further growth in the market.