Seoul shares open lower amid rate-cut delay prospects


Seoul shares started the week on a lower note, influenced by a mixed performance on Wall Street and concerns about potential delays in anticipated interest rate cuts by the US Federal Reserve. The Korea Composite Stock Price Index dropped by 0.22 percent in the initial 15 minutes of trading, standing at 2,752.27. The Dow Jones Industrial Average fell by 0.2 percent to 38,589.16 on Friday, while the Nasdaq Composite rose by 0.1 percent to 17,688.88. The Fed has adjusted its projections for rate cuts this year, and other central banks in Britain and Europe may do the same based on this week's inflation data. In Seoul, major stocks showed a mixed performance. Samsung Electronics Co. and LG Energy Solution Ltd. experienced declines, while Hyundai Motor Co., Kia Corp., and Korea Gas Corp. saw gains. Additionally, the local currency was trading at 1,382.35 won against the US dollar, marking a decrease of 3.05 won from the previous session's close. Overall, Seoul shares opened lower on Monday, influenced by Wall Street's mixed performance and concerns about potential delays in US interest rate cuts. The Korea Composite Stock Price Index fell by 0.22 percent in the first 15 minutes of trading, standing at 2,752.27. The Fed's revised rate cut projections have also raised the possibility of similar actions by central banks in Britain and Europe, depending on this week's inflation readings. In Seoul, major stocks showed a mixed performance, with declines in some key companies and gains in others. Additionally, the local currency was trading at 1,382.35 won against the US dollar, marking a decrease of 3.05 won from the previous session's close.


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