Seoul stocks open lower despite US gains
Korean stocks opened mildly lower Friday, despite overnight gains on Wall Street. After opening 0.47 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 10.17 points, or 0.15 percent, to 6,961.18 as of 9:15 a.m. Overnight, U.S. stocks finished modestly higher as benchmark Treasury yields eased from fresh multi-decade highs, although gains were capped by rising crude oil…
Korean stocks began the day marginally lower on Friday, contrary to overnight strength experienced on Wall Street. The main KOSPI index dropped 10.17 points, or 0.15 percent, to reach 6,961.18 by 9:15 a.m. Overnight, U.S. stocks experienced a modest upward trend as Treasury yields showed signs of easing from their record-high levels, albeit oil prices were on the rise.
The Dow Jones Industrial Average managed a 0.04 percent increase, while the S&P 500 gained 0.19 percent. The tech-focused Nasdaq Composite Index also saw a slight rise of 0.04 percent.
In Seoul, various key companies followed a predominantly downward trend. Samsung Electronics, a market-leading entity, declined by 0.22 percent. SK hynix, a prominent chip manufacturer, managed a slight gain of 0.22 percent. SK Square, the parent company of SK hynix, saw a more significant decrease of 0.61 percent. Meanwhile, Samsung Electro-Mechanics, an electronics component subsidiary of Samsung Electronics, experienced a 0.7 percent decline.
The Korean won was trading at 1,362.6 won against the U.S. dollar, marking a 4.2 won decrease from the previous trading session's closing price.
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 despite U.S. gains en.yna.co.kr
- Seoul stocks open lower despite US gains koreatimes.co.kr
