Seoul shares started the day on a downward trend as investors remained cautious following Federal Reserve Chairman Jerome Powell's vague comments on the future of the Fed's rate policy. The Korea Composite Stock Price Index dropped by 0.21 percent in the initial 15 minutes of trading, standing at 2,861.42. While the Nasdaq composite and the S&P 500 reached new highs, the Dow Jones Industrial Average experienced a slight decline of 0.13 percent. Powell's testimony refrained from providing clear signals about the timing of future actions, fueling speculation in the market about a potential rate cut in September. In the local market, major companies like Samsung Electronics and SK hynix saw slight declines, while chemical shares and carmakers showed mixed performance. The Korean won was trading at 1,385.7 won against the US dollar at 9:15 a.m., marking a 4.1 won increase from the previous session's close. Overall, the cautious sentiment among investors was reflected in the initial trading patterns of the Seoul stock market.