Seoul shares open lower on Wall Street losses


Seoul shares started the day lower as major stocks followed the weak performance of Wall Street. The Korea Composite Stock Price Index dropped by 0.08 percent in the first 15 minutes of trading, with concerns over escalating trade tensions between the US and China contributing to the downturn. Chip and tech shares, including Samsung Electronics and SK hynix, experienced notable losses, while steel and automotive stocks also retreated. On the other hand, shipbuilders continued to see gains from previous sessions. The market's decline was influenced by the overall negative performance of blue chips, particularly in the tech and manufacturing sectors, as concerns over trade tensions between the US and China persisted. This led to a drop in the benchmark Korea Composite Stock Price Index, with chip and tech giants such as Samsung Electronics and SK hynix experiencing significant declines. Additionally, steel and automotive shares also saw losses, while shipbuilders continued to show positive momentum. The local currency was trading at 1,377.7 won against the US dollar, representing a slight increase from the previous session's close.


Previous Post Next Post