Seoul shares open lower after US jobs data


Seoul shares started the week on a downward trend due to concerns over the impact of weaker US employment data and worries about a potential delay in rate cuts by the Federal Reserve. The Korea Composite Stock Price Index dropped by 1.3 percent in the initial 15 minutes of trading, reaching 2,510.39 points. Analysts attributed the decline to disappointing August employment figures, which are influencing investor sentiment ahead of the Fed's upcoming rate decision. Investors are also keeping an eye on next week's inflation data for additional insights into the US central bank's monetary policy. In Seoul, tech stocks were the primary decliners, with Samsung Electronics, SK hynix, Hyundai Mobis, and Korea Electric Power Corp. all experiencing declines. On the other hand, Hyundai Motor, LG Energy Solution, and SK Innovation were among the gainers. Additionally, the local currency was trading at 1,337.95 won against the US dollar, representing a decrease of 10.35 won from the previous session.


Previous Post Next Post