SEOUL, Oct. 14 (Yonhap) -- South Korean stocks fell for the sixth consecutive session Wednesday on persisting concerns over excessive spending on artificial intelligence (AI) as investors remained cautious ahead of U.S. inflation data. The Korean won gained against the U.S. dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) lost 26.54 points, or 0.44 percent, to 6,008.81.
The KOSPI has dropped since Tuesday last week, including a 5.46 percent plunge the previous day.
After opening 0.44 percent higher, the index rose 2.57 percent around 9:34 a.m. following New York Fed President John Williams' media interview that he saw no need for further monetary tightening next year.
However, the gains were erased following Dutch tech giant ASML's lower-than-expected sales outlook.
ASML, which provides chip-manufacturing machines to major chipmakers, including Samsung Electronics, reported strong earnings for the third quarter, but its revised 2026 sales outlook failed to meet market expectations, considering a yearly 84 percent surge in its stock price.
"The KOSPI erased all of its gains after ASML's earnings report," Seo Sang-young, a senior analyst at Mirae Asset Securities, said. "Investors are also awaiting U.S. consumer prices data later in the day."
Financial data is displayed on a screen inside the dealing room of Hana Bank central Seoul on Oct. 14, 2026, after the market close. (Yonhap)
brk@yna.co.kr
(END)