FINWIRES · TerminalLIVE
FINWIRES

South Korean Shares Open Lower on AI Concerns as OpenAI Growth Falters

By

-- South Korean shares opened lower on Wednesday, tracking Wall Street, as concerns over the AI sector re-emerged after OpenAI's missed internal revenue and user targets.

The benchmark Korea Composite Stock Price Index, or Kospi, fell by 22.02 points, to open at 6,619. The Kosdaq marginally gained to open at 1,213.28.

OpenAi's growth potential stumbled as its chief financial officer raised concerns that the company may not be able to pay future contracts if revenue fails to increase fast enough, according to a Wall Street Journal report.

The report has sent other AI stocks and tech companies' equities plummeting.

Meanwhile, Israel launched fresh attacks on southern Lebanon on Tuesday despite a ceasefire, adding to the oil shock brought by the UAE's departure from the OPEC.

Related Articles

Asia

Pateo Connect Logs Higher Losses in 2025

Pateo Connect Technology (Shanghai) (HKG:2889) logged 1.09 billion yuan in attributable loss for 2025, widening from a loss of 541.2 million yuan in 2024, according to a Hong Kong bourse filing Tuesday.The smart cockpit domain controller provider's shares were up 1% in morning trade Wednesday.Basic loss per share was 7.69 yuan, compared with the 4.11 yuan loss per share in the prior year.Revenue rose 37% year on year to 3.51 billion yuan, figures showed.

$HKG:2889
Asia

Baotou Steel Union Swings to Loss in Q1

Inner Mongolia Baotou Steel Union (SHA:600010) swung year on year to a net loss attributable to shareholders of 462.7 million yuan, or 0.0102 yuan per share, in the first quarter, according to a Shanghai bourse filing on Wednesday.The steel company posted an attributable profit of almost 45 million yuan, or 0.0010 yuan per share, a year earlier.Operating revenue fell 14% to 13.3 billion yuan from 15.4 billion yuan in the previous year.

$SHA:600010
Asia

iFlytek Narrows Q1 Loss; Shares Down 3%

iFlytek (SHE:002230) posted first-quarter attributable net loss of 169.7 million yuan, compared with the 193.3 million yuan loss in the previous year.Loss per share narrowed to 0.07 yuan from 0.08 yuan, according to a Wednesday filing with the Shenzhen bourse.Operating revenue went up 13% year over year to 5.27 billion yuan from 4.66 billion yuan.Shares of the tech company were down 3% in recent trade.

$SHE:002230