Seoul shares open lower amid political turmoil
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)
Seoul shares opened lower Thursday as investors remain worried over political turmoil after President Yoon Suk Yeol's short-lived attempt at martial law.
The benchmark Korea Composite Stock Price Index fell 10.64 points, or 0.43 percent, to 2,453.36 in the first 15 minutes of trading.
Late Tuesday, Yoon declared martial law, accusing the main opposition Democratic Party of being "anti-state forces" paralyzing the operation of the nation with impeachment motions and a downsized budget bill.
But Yoon abandoned the martial law attempt, the country's first such motion in over four decades, early Wednesday after the National Assembly voted to overturn the declaration.
Opposition parties submitted a motion earlier in the day to impeach the president over the botched martial law.
Auto and energy stocks led declines.
Top carmaker Hyundai Motor fell 1.2 percent, its smaller affiliate Kia Corp. declined 1.43 percent, and leading battery maker LG Energy Solution shed 0.51 percent.
No. 2 battery maker Samsung SDI fell 1.16 percent, leading refiner SK Innovation declined 0.35 percent, and LG Chem was down 1.09 percent.
But tech stocks rebounded on bargain hunting, with market bellwether Samsung Electronics rising 1.13 percent and No. 2 chipmaker SK hynix gaining 1.85 percent.
Among other gainers, Korea Zinc, the world's largest refined zinc smelter, jumped 4.31 percent, leading shipping firm HMM climbed 0.45 percent, and state-run Korea Gas Corp. was up 0.75 percent.
The local currency was trading at 1,414.25 won against the greenback at 9:15 a.m., down 4.15 won from the previous session. (Yonhap)
