(URGENT) Seoul shares open lower despite falling oil prices, bond yields
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Despite falling oil prices and declining bond yields, Seoul shares opened lower on Wednesday, contrary to overnight gains in the U.S. The Korea Composite Stock Price Index (KOSPI) shed 18.8 points, or 0.27 percent, and closed at 6,922.59 as of 9:15 a.m. On a global scale, oil prices retreated while bond yields fell from their multi-decade highs.
The Dow Jones Industrial Average managed a slight gain of 0.49 percent, while the tech-focused Nasdaq Composite surged to a record high, up 0.45 percent. However, domestic companies were not immune to the market dip. Chipmaker SK hynix experienced a 1.02 percent decline, while home appliance giant LG Electronics dropped 2.37 percent.
Hyundai Motor and POSCO Holdings also suffered losses, with declines of 1.44 percent and 2.83 percent, respectively. Notably, Samsung Electronics and cosmetics firm Amorepacific emerged as the top gainers, rising by 2.21 percent and 4.2 percent, respectively. The Korean won weakened against the U.S. dollar, trading at 1,340.05 won, a 1.95 won decrease from the previous trading session.
Written by urgent.news from Yonhap News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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