▲ Financial data is displayed on a screen at Hana Bank's dealing room in Seoul on July 1, 2026. (Yonhap)

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Seoul shares dip over 2 pct on tech losses amid Iran deal uncertainty

SEOUL, July 1 (Yonhap) -- South Korean stocks ended by more than 2 pct lower Wednesday as investors locked in gains following recent artificial intelligence-fueled rallies in semiconductor shares, amid uncertainty over fragile U.S.-Iran peace talks. The Korean won weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 173.07 points, or 2.04 percent, to close at 8,303.41.

Overnight, U.S. stocks closed higher on a continued chip rally, while investors closely watched developments regarding peace talks between Washington and Tehran.

Iran on Tuesday said it would not meet with top U.S. envoys who had flown to the region following recent hostilities near the Strait of Hormuz, even as indirect talks continued through mediators in Qatar.

Chip heavyweights weighed on the broader market despite robust export data released earlier in the day.

South Korea's exports reached a record high in June, surpassing the US$100 billion mark for the first time on the back of record semiconductor shipments.

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