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Seoul shares open lower on auto, chemical losses

By Yonhap

Published : May 29, 2024 - 09:38

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

South Korean stocks opened lower Wednesday, bucking overnight gains on Wall Street as auto and chemical shares slumped.

The benchmark Korea Composite Stock Price Index fell 4.19 points, or 0.15 percent, to 2,718.66 in the first 15 minutes of trading.

Overnight, the tech-heavy Nasdaq composite closed at an all-time high by advancing 0.59 percent, while the Dow Jones Industrial Average moved down 0.55 percent.

The United States is set to release April's Personal Consumption Expenditures index Friday.

In Seoul, Hyundai Motors fell 0.94 percent, and its sister Kia moved down 0.33 percent. Auto parts maker Hyundai Mobis decreased 1.6 percent.

LG Chem lost 2.3 percent, and top oil refiner SK Innovation slid 1.52 percent.

Top tech giant Samsung Electronics, on the other hand, gained 0.39 percent, and No. 2 chipmaker SK hynix climbed 1.23 percent.

The local currency was trading at 1,366.4 won against the US dollar, down 7.9 won from the previous session's close. (Yonhap)