Seoul shares open tad lower on overnight US losses
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)
Seoul shares opened slightly lower Friday, tracking overnight losses on Wall Street from discouraging US economic data.
The benchmark Korea Composite Stock Price Index (Kospi) fell 1.66 points, or 0.07 percent, to 2,480.46 in the first 15 minutes of trading.
Overnight, US stocks fell due to inflation concerns as US wholesale prices accelerated in November, coupled with higher-than-expected initial jobless claims.
The tech-heavy Nasdaq composite dropped 0.66 percent, and the S&P fell 0.54 percent. The Dow Jones Industrial Average edged down 0.53 percent.
In Seoul, most large caps lost ground, with No. 2 chipmaker SK hynix down 0.74 percent and leading battery manufacturer LG Energy Solution slumping 3.09 percent.
Financial and shipbuilding shares also retreated. KB Financial went down 1.15 percent, while Hanwha Ocean dropped 1.81 percent.
Market heavyweight Samsung Electronics, however, managed to add 0.72 percent. Top internet portal operator Naver also gained 0.48 percent.
The local currency was trading at 1,432.95 won against the US dollar at 9:15 a.m., down 1.05 won from the previous session. (Yonhap)
