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Seoul shares open higher on bargain hunting after chip rout

Created at 29 Jul · 12:16 AM1 source↑ Market-relevant
IN SHORT

Seoul shares opened higher on Wednesday as investors engaged in bargain hunting following a significant dip in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 1.09 percent in early trading.

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Key Numbers

1.09 percentKOSPI opening gain
6,089.11KOSPI opening level
10.84 percentKOSPI previous session decline
6,023.66KOSPI previous session close

Who's Involved

Choi Kyong-ae
Yonhap News reporter
Seoul shares open higher on bargain hunting after chip rout

↳ Why This Matters

The rebound in Seoul shares indicates a potential shift in investor sentiment following a sharp sell-off, driven by bargain hunting after significant losses in the technology and chipmaking sectors.

Key facts

  • Seoul shares opened higher on Wednesday, July 29, 2026.
  • The Korea Composite Stock Price Index (KOSPI) rose 1.09 percent in early trading.
  • The previous trading session saw the KOSPI fall nearly 11 percent.
  • Investor concerns about artificial intelligence infrastructure spending and increased competition from China contributed to the prior sell-off.

Seoul shares opened higher on Wednesday, July 29, 2026, as investors sought bargains after a significant decline in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) gained 65.45 points, or 1.09 percent, to reach 6,089.11 in early trading.

The previous day, the index had plunged 10.84 percent to close at 6,023.66. This sharp drop was attributed to concerns surrounding the future of large-scale investments in artificial intelligence (AI) infrastructure and heightened competition from China, which triggered a heavy sell-off of AI-related stocks, particularly chipmakers.

Overnight, Wall Street's performance was mixed, with the Dow Jones Industrial Average rising 1.03 percent while the tech-heavy Nasdaq composite slipped 0.22 percent. Investor worries about AI spending continued to impact semiconductor stocks, even as oil prices experienced a three-day slide.

Frequently asked questions

Concerns over the future of large-scale investment into artificial intelligence infrastructure and rising competition from China led to a heavy sell-off of AI-related stocks, particularly chipmakers.

The Dow Jones Industrial Average gained 1.03 percent, while the tech-heavy Nasdaq composite slipped 0.22 percent.

The KOSPI opened at 6,089.11 on Wednesday, July 29, 2026.

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How It Developed

Seoul shares opened higher on Wednesday.
The KOSPI rose 65.45 points, or 1.09 percent, to 6,089.11.
The previous session saw the KOSPI plunge 10.84 percent.
Concerns over AI infrastructure investment and competition from China led to the previous sell-off.

Sources

T1
Seoul shares open higher on bargain hunting after chip routYonhap News Agency

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