Seoul shares open weak after Trump's victory
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)
South Korean stocks opened lower Thursday on concerns over a shift in US trade and economic policies following former US President Donald Trump's comeback.
The benchmark Korea Composite Stock Price Index lost 8.27 points, or 0.32 percent, to 2,555.24 in the first 15 minutes of trading.
Overnight, major US indexes closed at record highs after Trump won the 2024 US presidential election as investors expected lower taxes and deregulation.
The Dow Jones Industrial Average jumped 3.5 percent, and the Nasdaq Composite gained 2.95 percent.
In Seoul, however, major shares started in negative territory.
Top carmaker Hyundai Motor declined 0.73 percent, and its sister Kia also dipped 1.68 percent.
Leading battery maker LG Energy Solution fell 2.05 percent, and No. 1 oil refinery SK Innovation sank 3.01 percent.
But tech giant Samsung Electronics added 0.35 percent, and its chipmaking rival SK hynix gained 0.46 percent.
The local currency was trading at 1,399.3 won against the US dollar, down 3.1 won from the previous session. (Yonhap)
