Seoul stocks open sharply lower on US tech losses, Fed caution

Seoul stocks opened sharply lower Thursday as a sell-off of US semiconductor shares weighed on market sentiment, while investors assessed fresh remarks from Federal Reserve Chairman Kevin Warsh.

After opening 4.46 percent lower, the benchmark Korea Composite Stock Price Index extended losses, plunging 517.25 points, or 6.23 percent, to 7,790.16, as of 9:15 a.m.

Due to the sharp drop, the bourse operator Korea Exchange activated a sell-side sidecar for the Kospi around 9:07 a.m., halting program ...