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지나쌤

Seoul shares open lower despite US gains

By Yonhap

Published : April 12, 2024 - 09:39

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

South Korean stocks started lower Friday despite overnight US gains as investors await the Bank of Korea's rate decision later in the day.

The benchmark Korea Composite Stock Price Index dropped 16.61 points, or 0.61 percent, to 2,690.35 in the first 15 minutes of trading.

Overnight, the Nasdaq Composite jumped 1.7 percent and the S&P 500 rose 0.7 percent on a tech rally, while the Dow Jones Industrial Average was almost flat.

Apple soared 4.3 percent, Nvidia surged 4.1 percent, and Amazon climbed 1.7 percent.

The Bank of Korea is widely expected to keep the rate unchanged for the 10th consecutive time at 3.5 percent.

In Seoul, most big-cap shares kicked off in negative territory.

Market bellwether Samsung Electronics lost 0.24 percent and No. 2 chipmaker SK hynix fell 0.48 percent.

Top automaker Hyundai Motor dropped 0.83 percent, its smaller affiliate Kia retreated 1.43 percent, and its auto parts making affiliate Hyundai Mobis plunged 3.78 percent.

Battery and financial shares also lost ground.

Leading battery maker LG Energy Solution dipped 0.53 percent, Samsung SDI went down 0.74 percent, and Posco Future M pulled back 1.42 percent.

KB Financial Group, Shinhan Financial Group and Hana Financial Group tumbled 3.22 percent, 1.97 percent and 3.79 percent, respectively.

Internet portal operator Naver and chemical producer LG Chem were among the few gainers, adding 2.4 percent and 1.03 percent, respectively.

The local currency was trading at 1,368.10 won against the dollar, down 4.00 won from the previous session's close. (Yonhap)