The Korea Herald

ssg
피터빈트

Seoul shares open lower as US inflation data meets expectations

By Yonhap

Published : Dec. 13, 2023 - 09:49

    • Link copied

An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)

South Korean stocks opened lower Wednesday as investors digested the latest US inflation data that met market expectations while waiting for this week's Federal Reserve meeting.

The benchmark Korea Composite Stock Price Index fell 7.67 points, or 0.3 percent, to 2,527.6 in the first 15 minutes of trading.

The United States announced its on-year inflation came to 3.1 percent in November, falling in line with the market estimate.

Investors, meanwhile, also waited for hints over the future direction of US monetary policy from this week's Fed meeting.

In Seoul, Samsung Electronics slipped 0.27 percent, and LG Energy Solution shed 1.06 percent. Samsung SDI decreased 1.57 percent.

Chemical shares also lost ground, with LG Chem falling 1.69 percent and top refiner SK Innovation losing 0.82 percent.

Transportation firms, on the other hand, opened higher, with Korean Air rising 0.22 percent and Asiana Airlines gaining 0.73 percent.

The local currency was trading at 1,313.2 won against the US dollar, up 0.8 won from the previous session's close. (Yonhap)