Seoul shares open almost flat ahead of US inflation data


The Korea Composite Stock Price Index was displayed on an electronic board at the Hana Bank headquarters in Seoul, with South Korean stocks opening almost unchanged as investors awaited a key US inflation report to be released later in the week. The benchmark Korea Composite Stock Price Index saw a minimal increase of 0.02 percent in the first 15 minutes of trading, while major US indices showed mixed results, with the S&P 500 closing flat, the Dow Jones Industrial Average declining by 0.2 percent, and the tech-heavy Nasdaq composite gaining 0.3 percent. Investors are closely watching the upcoming US Consumer Price Index data for April, which will provide insights into the future direction of the Federal Reserve's key rate decision. In Seoul, Samsung Electronics and SK hynix experienced slight declines, while financial shares, including KB Financial Group and Hana Financial Group, also lost ground. On the other hand, battery and auto shares saw gains, with leading battery maker LG Energy Solution, automaker Hyundai Motor, and internet portal operator Naver also registering increases in their stock prices. The local currency remained stable against the US dollar at 1,368.20 won. Overall, the South Korean stock market opened with minimal changes as investors awaited the release of the US inflation report, with some sectors experiencing slight declines and others showing gains. The upcoming US Consumer Price Index data for April is expected to provide important insights into the future actions of the Federal Reserve, shaping investors' expectations and market movements in the coming days.


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