BUSINESS

Seoul shares open tad lower despite Wall Street rally

By Yonhap
  • Published : Sept 19, 2017 - 09:25
  • Updated : Sept 19, 2017 - 09:25

South Korean stocks opened slightly lower Tuesday despite an overnight Wall Street rally as investors sought to lock in recent gains, analysts said.

The benchmark Korea Composite Stock Price Index inched down 1.8 points, or 0.07 percent, to 2,416.41 in the first 15 minutes of trading.
 

(Yonhap)

On Monday (local time), the major US indexes hit record highs as investors were awaiting a Federal Reserve meeting scheduled for later this week. The Dow added 0.28 percent, and the S&P 500 was up 0.15 percent, while the tech-heavy Nasdaq climbed 0.10 percent.

Large-cap stocks on the Seoul bourse traded mixed, with market bellwether Samsung Electronics losing 0.15 percent. Steelmaker POSCO, meanwhile, increased 2.88 percent, and global chipmaker SK hynix was up 0.13 percent.

The local currency was trading at 1,128.5 won against the US dollar, down 1.9 won from the previous session's close. (Yonhap)