(ATTN: UPDATES para 2; ADDS additional info at bottom; CHANGES photo)

SEOUL, Aug. 3 (Yonhap) -- Seoul stocks opened sharply lower Monday as investors went to lock in profits after a record-breaking surge the previous session.

After opening 3.6 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 280.05 points, or 4.25 percent, to 6,315.4 as of 9:15 a.m.

The index bucked a rally on Wall Street on Friday (local time), as robust earnings from Amazon fueled investor optimism for the artificial intelligence (AI) sector.

Revenue at Amazon's cloud computing unit jumped 37 percent in the second quarter ending in June, exceeding market expectations.

"We may see investors attempt profit-taking early this week, as the benchmark KOSPI vaulted around 17 percent Friday, the sharpest single-day gain on record," Han Ji-young, an analyst from Kiwoom Securities, said.

Tensions in the Middle East have shown signs of easing as U.S. President Donald Trump said talks with Iran will resume Monday (U.S. time) after he called off a "massive attack" on the country.

In Seoul, most large-cap shares were trading lower.

Chip giant Samsung Electronics fell 6.48 percent, while industry rival SK hynix dipped 6.69 percent.

Battery maker LG Energy Solution fell 4.27 percent, major financial company KB Financial inched down 0.47 percent, while defense giant Hanwha Aerospace added 0.55 percent.

The Korean won was quoted at 1,433.3 won against the U.S. dollar, up 2.2 won from the previous session.

fairydust@yna.co.kr

(END)

  • Fans, celebrities support BTS' Grammy boycott
  • Police drop underage dating charge against actor Kim Soo-hyun
  • S. Korea formally completes development of homegrown KF-21 fighter jet
  • S. Korea in talks with U.S. military over air base access following white phosphorus leak: sources

  • BTS' 'Butter' tops 1.1 bln views on YouTube

  • Fans, celebrities support BTS' Grammy boycott

  • S. Korea formally completes development of homegrown KF-21 fighter jet
  • Police drop underage dating charge against actor Kim Soo-hyun
  • S. Korea in talks with U.S. military over air base access following white phosphorus leak: sources

  • (Movie Review) 'The Gorals' breathes fresh air into Korean coming-of-age cinema

  • Navy's ROKS Daejeon awarded 'top gun' honor at RIMPAC

  • (3rd LD) Temperatures soar to record 42.5 C in southeast
  • Lee arrives in Frankfurt for meeting with members of Korean community
  • (2nd LD) Temperatures soar to record 42.5 C in southeast
  • 7 in 10 stocks fall in July as stock market posts steepest decline since 2008