The Korea Herald

지나쌤

Seoul shares open lower ahead of US jobs data

By Yonhap

Published : Sept. 6, 2024 - 09:35

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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 shares opened slightly lower Friday ahead of the US jobs report that may serve as another indicator of a possibly looming recession.

The benchmark Korea Composite Stock Price Index shed 7.63 points, or 0.30 percent, to 2,567.87 in the first 15 minutes of trading.

The index has been on a steady decline since Tuesday, when the United States reported a worse-than-expected manufacturing purchasing managers index.

The US is set to release its latest jobs data Friday.

In Seoul, large caps traded mixed.

Tech giant Samsung Electronics gained 0.29 percent, while SK hynix, the world's No. 2 chipmaker, retreated 1.13 percent.

Leading battery makers LG Energy Solution and Samsung SDS lost 1.59 percent and 0.69 percent, respectively, while top mobile service provider SK Telecom surged 1.92 percent.

Autos were in negative territory, with industry leader Hyundai Motor slipping 0.66 percent and its smaller affiliate Kia Motors falling 1.19 percent.

The local currency was trading at 1,332.90 won against the US dollar, up 3.0 won from the previous session. (Yonhap)