Seoul shares open lower on tech slump


The Korea Composite Stock Price Index displayed on an electronic board at the Hana Bank headquarters in Seoul showed a decline in South Korean stocks at the opening of trading on Tuesday. The drop was attributed to losses in the technology sector, while investors awaited further indications regarding the future direction of US interest rates. Within the first 15 minutes of trading, the benchmark index fell by 4.82 points, or 0.18 percent, reaching 2,718.17. Notable movements in individual stocks included Samsung Electronics experiencing a 0.26 percent decrease, while SK hynix, the second-largest chipmaker, saw a 0.99 percent gain. LG Energy Solution, a prominent battery manufacturer, and Samsung SDI both recorded declines of 0.96 percent and 1.57 percent, respectively. Additionally, Naver, the operator of South Korea's primary online search engine, and Kakao, which manages the popular messaging app KakaoTalk, experienced decreases of 0.5 percent and 0.98 percent, respectively. Meanwhile, the local currency was trading at 1,362.3 won against the US dollar, representing a 1.5 won increase from the previous session's closing rate.


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