Seoul shares open lower on profit taking, mixed US stock results


On Tuesday, the South Korean stock market opened with a decline following a strong previous session. The benchmark Korea Composite Stock Price Index dropped by 0.23 percent in the first 15 minutes of trading, with key players like Samsung Electronics and Hyundai Motor experiencing losses. Financial shares also faced setbacks, while battery and pharmaceutical stocks saw gains. The market movement was influenced by mixed overnight results from Wall Street, where the Dow Jones Industrial Average fell 0.3 percent, the Nasdaq composite gained 0.6 percent, and the S&P 500 edged up 0.1 percent. Additionally, the local currency was trading at 1,369.9 won against the US dollar. At the Hana Bank headquarters in Seoul, an electronic board displayed the Korea Composite Stock Price Index on Tuesday as investors capitalized on the strong gains of the previous session. The market opened weaker, with the benchmark index sliding by 6.06 points, or 0.23 percent, in the early minutes of trading. This movement was attributed to the mixed overnight results on Wall Street, where the Dow Jones Industrial Average fell, the Nasdaq composite gained, and the S&P 500 edged up. In Seoul, stock bellwether Samsung Electronics and automaker Hyundai Motor experienced declines, whereas battery and pharmaceutical stocks like LG Energy Solution and Samsung Biologics showed advances. The local currency also saw an increase in value against the US dollar, trading at 1,369.9 won.


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