▲ Financial data is displayed on a screen inside the dealing room in Hana Bank in central Seoul, on April 29, 2026. (Yonhap)

stocks-morning

Seoul stocks down late Wed. morning amid AI woes, oil prices

SEOUL, April 29 (Yonhap) -- Seoul stocks were trading lower late Wednesday morning, as investors sat on the sidelines after unfavorable reports regarding OpenAI dampened sentiment for the artificial intelligence sector.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.45 points, or 0.08 percent, to 6,635.57.

After opening lower, the index experienced choppy trading in early trading.

Overnight, U.S. stocks lost ground led by losses in tech heavyweights, as a report said an executive from OpenAI, the founder of ChatGPT, raised concerns over its revenue and user targets.

Rising oil prices further weighed on the market. Brent Crude, the international oil benchmark, closed at over US$111 per barrel, as hopes for a breakthrough in U.S.-Iran peace talks faded.

Most large cap shares were trading lower.

Market bellwether Samsung Electronics fell 1.13 percent, and its chipmaking rival SK hynix inched down 0.23 percent.

Top auto maker Hyundai Motor retreated 0.72 percent, while defense giant Hanwha Aerospace added 1.58 percent, and shipbuilder HD Hyundai Heavy Industries advanced 3.3 percent.

The Korean won was quoted at 1,476 won against the greenback as of 11:20 a.m., down 2.4 won from the previous session.

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