Seoul shares trade mixed after higher open as AI and Fed worries linger

Seoul shares traded mixed after opening higher Thursday, with investors attempting to buy oversold stocks despite losses on Wall Street amid concerns over AI spending and uncertainty about the Federal Reserve's policy path.

The Kospi rose 18.53 points, or 0.33 percent, from to the previous session to 5,681.77 at the opening bell.

The index slightly edged down at 9:01 a.m., falling 7.08 points, or 0.13 percent, to 5,656.16. It then quickly rebounded at 9:07 a.m., up 4.38 points, 0.08 percent, to 5,667.62. 

On Wednesday, the index plunged 5.98 percent to close at 5,663.24, following a 10.84 percent decline the previous session.

The Kosdaq opened at 654.72, down 7.96 points, or 1.20 percent, from the previous session.

Overnight, the Dow Jones Industrial Average fell 2.19 percent, while the tech-heavy Nasdaq composite declined 1.74 percent.

The Fed on Wednesday left its benchmark interest rate unchanged at 3.5-3.75 percent, marking a fifth consecutive pause.

The U.S. central bank offered little new guidance on the future path of interest rates, leaving investors with greater uncertainty.

BY LEE TAE-HEE, YONHAP [[email protected]]