Seoul shares open sharply lower on Wall Street losses


The Korea Composite Stock Price Index displayed on an electronic board at the Hana Bank headquarters in Seoul showed a significant decline in Seoul shares at the opening of trading on Thursday, following losses on Wall Street. The index dropped by 35.99 points, or 1.30 percent, in the first 15 minutes of trading, mirroring the 1.25 percent decrease in the Dow Jones Industrial Average and the 3.64 percent plunge in the Nasdaq the previous day. The poor Q2 performances of major tech companies, including Tesla, contributed to the negative trend in the market. Large caps in Seoul, such as Samsung Electronics, SK hynix, LG Energy Solution, Samsung SDS, LG Chem, Hyundai Motor, and Kia Motors, experienced declines, while the local currency weakened against the US dollar, trading at 1,384.80 won. The Korea Composite Stock Price Index at the Hana Bank headquarters in Seoul reflected a sharp decline in Seoul shares at the opening of trading on Thursday, in line with the losses on Wall Street the previous day. The index fell by 35.99 points, or 1.30 percent, in the first 15 minutes of trading, influenced by the 1.25 percent drop in the Dow Jones Industrial Average and the 3.64 percent plunge in the Nasdaq. The poor Q2 performances of major tech companies, including Tesla, contributed to the negative trend in the market. Large caps in Seoul, such as Samsung Electronics, SK hynix, LG Energy Solution, Samsung SDS, LG Chem, Hyundai Motor, and Kia Motors, experienced declines, while the local currency weakened against the US dollar, trading at 1,384.80 won.


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