Seoul shares open lower on declines in technology stocks


South Korean stocks opened lower on Tuesday, with the Korea Composite Stock Price Index dropping 0.4 percent in the first 15 minutes of trading. This decline was attributed to a broad decrease in big-cap tech shares. In the US, major stock indexes closed with mixed results, with the Nasdaq Composite reaching a record high on a chip rally, while the Dow Jones Industrial Average ended lower. In Seoul, most big-cap shares also started in negative territory, with companies like Samsung Electronics, Hyundai Motor, Posco Holdings, and LG Chem experiencing declines. However, SK hynix was among the few gainers, increasing by 0.79 percent. Additionally, the local currency was trading at 1,363.20 won against the US dollar, down 7.3 won from the previous session's close. The Korea Composite Stock Price Index fell by 10.94 points, or 0.4 percent, at the start of trading on Tuesday, largely due to a drop in big-cap tech shares. This trend was in line with the mixed performance of major US stock indexes the previous day, with the Nasdaq Composite reaching a record high and the Dow Jones Industrial Average ending lower. In Seoul, most big-cap shares also started in negative territory, with companies like Samsung Electronics, Hyundai Motor, Posco Holdings, and LG Chem experiencing declines. However, SK hynix was among the few gainers, increasing by 0.79 percent. Additionally, the local currency was trading at 1,363.20 won against the US dollar, down 7.3 won from the previous session's close.


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