Seoul shares open lower despite falling oil prices, bond yields
Seoul shares opened lower Wednesday, bucking overnight U.S. gains and easing concerns over lower oil prices and bond yields. After opening 1.11 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) narrowed losses to trade down 18.8 points, or 0.27 percent, to 6,922.59 as of 9:15 a.m. Global oil prices fell, and bond yields declined from their multidecade highs. Overnight, the…
On Wednesday, Seoul shares opened lower, defying overnight gains in the United States and diminishing worries about declining oil prices and falling bond yields. The Korea Composite Stock Price Index (KOSPI) initially fell 1.11 percent before narrowing its losses to trade 18.8 points, or 0.27 percent, lower, reaching 6,922.59 by 9:15 a.m. Global oil prices dropped, and bond yields fell from their record highs.
Overnight, the Dow Jones Industrial Average gained 0.49 percent and the tech-focused Nasdaq Composite surged 0.45 percent, hitting a record high. In Seoul, large-cap stocks exhibited mixed performance. Chipmaker SK hynix declined 1.02 percent, while home appliance manufacturer LG Electronics slipped 2.37 percent. Automotive giant Hyundai Motor dropped 1.44 percent, and steel producer POSCO Holdings plummeted 2.83 percent.
Meanwhile, market leader Samsung Electronics rose 2.21 percent, and cosmetics firm Amorepacific increased 4.2 percent.
The Korean won traded at 1,340.05 per U.S. dollar, marking a 1.95 win decrease from the previous day'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.
