Seoul shares open lower on US tech losses


The Korea Composite Stock Price Index (Kospi) displayed on an electronic board at the Hana Bank headquarters in Seoul showed a 0.44 percent decline in the first 15 minutes of trading, following a tech slide on Wall Street. The Dow Jones Industrial Average increased by 0.16 percent, while the S&P 500 and Nasdaq composite decreased by 0.32 percent and 0.85 percent, respectively. Nvidia, Micron, and AMD experienced losses, with Nvidia sliding 2.25 percent before its second-quarter earnings release. Samsung Electronics and SK hynix also saw declines, while Hyundai Motor and Kia dropped by 1.6 percent and 1.46 percent, respectively. LG Energy Solution fell by 0.79 percent, and Samsung SDI rose by 0.45 percent. Samsung Biologics saw a 3.64 percent increase, and Celltrion advanced by 1.22 percent. LG Chem climbed by 1.42 percent, and the local currency was trading at 1,330.1 won against the US dollar, down 3.3 won from the previous session's close. In summary, South Korean shares opened lower on Tuesday, with the Kospi experiencing a 0.44 percent decline in the first 15 minutes of trading, following a tech slide on Wall Street. Major US indexes closed mixed, with Nvidia, Samsung Electronics, SK hynix, Hyundai Motor, and Kia among the companies that saw declines. However, Samsung Biologics, Celltrion, and LG Chem saw gains, and the local currency was trading lower against the US dollar.


Previous Post Next Post