Seoul shares open higher ahead of key US economic data


The Korea Composite Stock Price Index (Kospi) opened slightly higher on Tuesday, rising by 0.22 percent to 2,624.10 in the first 15 minutes of trading at the Hana Bank headquarters in Seoul. This follows a mixed overnight performance in major US indexes, with the S&P 500 remaining almost unchanged, the Dow Jones Industrial Average declining by 0.4 percent, and the Nasdaq composite increasing by 0.2 percent. Investors are eagerly anticipating the release of US economic data later in the week, particularly the consumer price index and retail sales figures, which will provide insight into the potential for a recession in the world's largest economy. Market movements were influenced by gains in tech companies like Samsung Electronics and SK hynix, while leading battery makers LG Energy Solution and Samsung SDI experienced declines. Similarly, major bio firms Samsung Biologics and Celltrion also saw decreases in their stock prices. Meanwhile, the local currency traded at 1,370.60 won against the US dollar, representing a 1.4 won increase from the previous session's close. In summary, the Kospi showed a modest increase at the opening of trading, reflecting the mixed performance of major US indexes the previous day. Investors are eagerly awaiting the release of crucial US economic data later in the week, which will provide valuable insights into the future prospects of the world's largest economy. This anticipation has influenced market movements, with tech companies like Samsung Electronics and SK hynix experiencing gains, while leading battery makers LG Energy Solution and Samsung SDI faced declines. Additionally, major bio firms Samsung Biologics and Celltrion also saw decreases in their stock prices, while the local currency traded at 1,370.60 won against the US dollar, marking a 1.4 won increase from the previous session's close.


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