Seoul shares open lower after short-lived martial law attempt
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 as political uncertainties arose after President Yoon Suk Yeol lifted a short-lived attempt at martial law.
The benchmark Korea Composite Stock Price Index (Kospi) fell 25.95 points, or 1.04 percent, to 2,474.15 in the first 15 minutes of trading.
On late Tuesday, Yoon declared an "emergency martial law," accusing the main opposition Democratic Party of sympathizing with North Korea and paralyzing the government with anti-state activities.
But Yoon later lifted the martial law after the National Assembly voted to demand it be lifted.
In Seoul, most large-cap stocks declined.
Market bellwether Samsung Electronics fell 1.3 percent, No. 2 chipmaker SK hynix shed 0.55 percent, and top carmaker Hyundai Motor was down 1.86 percent.
Leading battery maker LG Energy Solution declined 2.14 percent, and another battery firm, Samsung SDI, also dropped 2.68 percent.
Among gainers, No. 2 wireless services provider KT rose 1.34 percent, dominant tobacco company KT&G climbed 0.57 percent, and Korea Zinc, the world's largest refined zinc smelter, was up 9.47 percent.
The local currency was trading at 1,409.5 won against the greenback at 9:15 a.m., down 6.6 won from the previous session. (Yonhap)
