Seoul stocks open lower on chip losses
Korean stocks opened lower Thursday, dragged down by losses in chip-heavy stocks, following a three-day losing streak. After opening 0.34 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 26.3 points, or 0.38 percent, to 6,811.74 as of 9:15 a.m. Overnight, Wall Street ended mixed as cooler-than-expected inflation data was offset by persistent pressure from elevated U.S.…
Korean stocks commenced the trading day on Thursday in a downward trajectory on Thursday, impacted by declines in chip-centric stocks, following a three-day downturn. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 26.3 points, or 0.38 percent, to 6,811.74 as of 9:15 a.m. The previous night, Wall Street experienced mixed results, with the Dow Jones Industrial Average falling 0.86 percent and the S&P 500 dipping 0.25 percent. Conversely, the tech-focused Nasdaq Composite Index registered a modest gain of 0.24 percent.
In the Korean market, flagship companies experienced losses. Samsung Electronics, the market bellwether, fell 0.28 percent, while chip manufacturer SK hynix experienced a decline of 0.11 percent. The parent company of SK hynix, SK Square, saw a more substantial decrease of 2.81 percent. Additionally, Samsung Electro-Mechanics, an electronics component subsidiary of Samsung Electronics, witnessed a 2.05 percent drop.
The Korean won was trading at 1,358.7 won per U.S. dollar, marking a 3 won decline from the previous trading session's close.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- (LEAD) Seoul stocks open lower on chip losses en.yna.co.kr
- Seoul stocks open lower on chip losses koreatimes.co.kr
