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Seoul Shares Open Higher Before Reversing Gains on Tech Losses

morning · · thread: Oil Prices Drop as US and Iran Pause Military Hostilities

5 sources across 4 countries · South Korea · Indonesia · Taiwan · United Kingdom · 1 of them is linked to a state

Who reported this

  • Yonhap South Korea · Centre · State-affiliated · Cooperative; statutory national agency with state subsidy
  • The Korea Herald South Korea · Centre-right · Herald Corporation (Yeongpoong Group)
  • The Jakarta Post Indonesia · Centre-left · PT Bina Media Tenggara
  • Focus Taiwan Taiwan · Centre · Public · Central News Agency, statutory funding
  • Reuters United Kingdom · Centre · Thomson Reuters Corporation

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.

The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.

South Korea's benchmark Korea Composite Stock Price Index (KOSPI) opened 1.5 percent higher on Tuesday, tracking overnight gains on Wall Street. The index opened at 6,351.38, following a volatile period where it surged 18 percent on Friday and plunged more than 5 percent on Monday. The early gains were driven by bargain hunting and a positive performance in the U.S. where the Dow Jones Industrial Average rose 1.32 percent to 53,178.41 and the Nasdaq composite climbed 2.13 percent to 25,913.90. Amazon.com Inc. saw a 4.5 percent gain after strong earnings, which helped lift companies tied to artificial intelligence demand.

Despite the positive start, the KOSPI turned lower by late Tuesday morning. As of 11:20 a.m. the index traded down 0.18 percent to 6,246.45. This reversal was led by losses in technology stocks, with Samsung Electronics falling 1.77 percent and SK hynix declining 2.55 percent. Other decliners included Hyundai Motor, which dropped 2.67 percent. Conversely, defense stocks saw significant gains, with Korea Aerospace Industries climbing 10.27 percent and Hanwha Aerospace jumping 8.71 percent.

Market sentiment remained influenced by geopolitical uncertainty in the Middle East and fluctuations in oil prices. While some reports noted that falling oil prices contributed to positive sentiment on Monday, other reports highlighted that oil prices edged up on Tuesday amid conflicting views from the U.S. and Iran regarding peace talks and the reopening of the Strait of Hormuz.

How each side framed it

Centre-left
This framing emphasized the broader regional context and the volatility of the AI themed rout, while highlighting the geopolitical tension between the U.S. and Iran.
Centre
These reports focused on the specific numerical movements of the KOSPI and the influence of U.S. market trends and AI demand.
Centre-right
This reporting mirrored the center lean by focusing on the correlation between Wall Street gains and the Seoul market opening.

Sources

100% of the statements in this article were traced back to the source articles listed above.