(LEAD) Seoul stocks open lower on inflation woes
SEOUL, Sept. 29 (Yonhap) -- South Korean stocks opened lower Tuesday, tracking W...
South Korean stocks opened on a negative note on Tuesday, mirroring the decline on Wall Street as rising oil prices sparked inflation worries and pushed U.S. Treasury yields up due to Middle East tensions. The KOSPI index slipped by 13.31 points, or 0.19%, to settle at 6,876.43 by 9:15 a.m. As the markets closed overnight, U.S. stocks followed a downward trend, with the S&P 500 dropping 0.77%, the Dow Jones Industrial Average falling 0.67%, and the tech-heavy Nasdaq Composite sinking 0.92%.
Benchmark Treasury yields rose to multiyear highs, with the 10-year yield at 5.23% and the 30-year yield at 5.55%. Among the market's top performers was Samsung Electronics, which rose 0.93%, while SK hynix recorded a slight gain of 0.11%. On the downside, Hyundai Motor witnessed a decline of 1.4%, and LG Energy Solution shed 2.57%.
The Korean won appreciated slightly against the U.S. dollar, trading at 1,359.6 won, up from the previous close.
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Also reported by 2 other outlets
- Seoul stocks open lower on inflation woes koreatimes.co.kr
- Seoul stocks open lower on inflation woes en.yna.co.kr
