Kospi opens down 3.2 percent in Seoul

Latest (09:23 Seoul time): The Kospi had pared its opening fall to 77.10 points, or 1.36 percent, at 5,590.95 by 09:23 local time, having briefly recovered to 5,615, down 0.94 percent, Yonhap reported. Foreign investors were net buyers of 153 billion won and institutions of 230 billion won, against 410 billion won of net selling by retail investors. The Kosdaq, down 2.73 percent at the open, was down just 0.42 percent at 791.47. Samsung Electronics was down about 1 percent and SK Hynix about 3.6 percent. Yonhap put Friday’s fall in the Philadelphia semiconductor index at 3.83 percent, its eighth consecutive decline and the longest losing streak since the 2008 financial crisis, with CoreWeave down 11.91 percent in New York.

The Kospi opened on Monday down 179.64 points, or 3.17 percent, at 5,488.41 and trimmed the loss in early trade, standing down 129.63 points, or 2.29 percent, at 5,538.42 at 09:02 local time, Yonhap reported. The Kosdaq opened down 21.72 points, or 2.73 percent, at 773.06 and eased to a 1.91 percent fall at 779.58. The Seoul open is Asia’s first full session after a Friday in the United States in which the semiconductor index fell 4.14 percent, taking its weekly loss to 11.8 percent.