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지나쌤

Seoul shares open lower ahead of Fed minutes

By Yonhap

Published : Jan. 3, 2024 - 09:36

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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)

Seoul shares opened lower Wednesday after a mixed close on Wall Street as investors await the release of the Federal Reserve's minutes for clues on the US central bank's future rate plans.

The benchmark Korea Composite Stock Price Index fell 31.05 points, or 1.2 percent, to 2,638.76 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average inched up 0.07 percent to 37,715.04, but the tech-heavy Nasdaq fell 1.6 percent to 14,765.94.

The Fed's latest minutes are set to be available on Wednesday, and investors expect the bank to cut interest rates this year.

In Seoul, most of the large-cap stocks declined across the board.

Market bellwether Samsung Electronics Co. fell 1.1 percent, No. 2 chipmaker SK hynix Inc. declined 1.6 percent, top carmaker Hyundai Motor Co. dropped 1.2 percent, national flag carrier Korean Air Co. shed 1.5 percent, and leading battery maker LG Energy Solution Ltd. was down 1.4 percent.

Among gainers, Korea Aerospace Industries Co., the country's sole aircraft manufacturer, rose 0.6 percent, state utility Korea Electric Power Corp. climbed 0.1 percent, and LG Display Co. was up 1.1 percent.

The local currency was trading at 1,309.90 won against the US dollar, down 9.5 won from the previous session's close. (Yonhap)