Seoul shares open lower on Fed's higher

컴퓨터 2023-12-01 17:05:40 12

South Korean stocks opened lower Monday on concerns about the Federal Reserve's aggressive monetary tightening for a longer-than-expected period.

The benchmark Korea Composite Stock Price Index shed 9.31 points, or 0.37 percent, to 2,498.82 in the first 15 minutes of trading.

The US central bank last week signaled it could hike interest rates again this year while keeping the rates unchanged.

On Friday, the Dow Jones Industrial Average fell 0.31 percent, and the tech-heavy Nasdaq Composite inched down 0.09 percent.

In Seoul, most top-cap shares opened lower.

Market bellwether Samsung Electronics lost 0.15 percent, and chip giant SK hynix retreated 1.02 percent,

Leading battery maker LG Energy Solution lost 0.92 percent, and Posco Holdings sank 2.46 percent. LG Chem decreased 0.39 percent.

Carmakers also opened lower. Top automaker Hyundai Motor went down 0.78 percent, and Kia shed 0.12 percent.

The local currency was trading at 1,334.60 won against the dollar at 9:15 a.m., up 2.2 won from the previous session's close. (Yonhap)




GOT7’s Youngjae to release 1st solo LP “Do It” next month

Hana Financial signs MOU with Saudi Arabia's EXIM bank to expand cooperation

[Feature] The rise and fall of terrestrial TV dramas

[KH Explains] Lotte goes all

Supporters of Israel hold rally in Seoul, urge Hamas to stop atrocities

Breadwinners in their 60s or above double in 9 years

[Feature] The rise and fall of terrestrial TV dramas

여당, 총선변수에 고심…“쇄신한 민주당과 대결 준비해야”