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Kospi open sharply lower on tech losses, U.S. rate cut uncertainties

Published: 14 Nov. 2025, 10:30

Financial data are displayed on screens in the dealing room of Hana Bank in Seoul on Nov. 14. [YONHAP]

Korean stocks opened sharply lower Friday, following declines on Wall Street led by tech shares, while investors grew pessimistic about a December rate cut in the United States.

The Kospi fell 90.5 points, or 2.17 percent, to 4,080.13 in the first 15 minutes of trading.

Overnight, major U.S. stock indexes closed sharply lower as investors continued to sell off shares in the AI sector over valuation concerns.

The Dow Jones Industrial Average lost 1.65 percent, and the S&P 500 fell 1.66 percent, while the tech-heavy Nasdaq sank 2.29 percent.

Changes in rate cut expectations weighed down equities as well. Susan Collins, president of the Federal Reserve Bank of Boston, said late Wednesday that it is likely appropriate to leave interest rates steady "for some time."

Traders now see a 51.9 percent chance of a December rate cut, down from nearly 70 percent a week ago, according to data from CME Group, a U.S. financial institution.

In Seoul, most large-cap shares were trading lower.

Market bellwether Samsung Electronics declined 3.4 percent, while its chipmaking rival SK hynix dipped 4.98 percent.

Battery maker LG Energy Solution retreated 1.86 percent, top carmaker Hyundai Motor fell 1.8 percent, and nuclear power plant builder Doosan Enerbility shed 3.37 percent.

In contrast, defense giant Hanwha Aerospace added 2.41 percent, and bio firm Celltrion rose 1.18 percent.

The local currency was trading at 1,473 won against the U.S. dollar, up 0.46 percent from the previous session's quote of 1,466.20 won. The Korean won fell to its lowest level against the greenback on April 9 this year, when it ended at 1,484.1 won.

Yonhap