The Korea Herald

지나쌤

Seoul shares open lower on slump in Europe

By Yonhap

Published : Jan. 16, 2024 - 09:35

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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 Tuesday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)

South Korean stocks opened lower Tuesday, tracking overnight losses on the European stock market.

The benchmark Korea Composite Stock Price Index lost 4.37 points, or 0.17 percent, to 2,521.62 in the first 15 minutes of trading.

While Wall Street was closed, European stocks declined on contraction in the German economy and hawkish comments by the European Central Bank officials.

In Seoul, big-cap shares started mixed.

Market bellwether Samsung Electronics fell 0.41 percent, and No. 2 chipmaker SK hynix declined 0.67 percent.

Top automaker Hyundai Motor dropped 0.32 percent, and its smaller affiliate Kia lost 0.66 percent.

But battery and IT shares got off to a strong start.

Leading battery maker LG Energy Solution gained 0.38 percent, Samsung SDI jumped 1 percent, and Posco Future M rose 0.33 percent. Ecopro Materials soared 1.85 percent.

Internet portal operator Naver climbed 1.09 percent, and Kakao, the operator of the country's top mobile messenger, advanced 0.65 percent.

Bio shares were mixed, with Samsung Biologics down 0.13 percent and Celltrion up 0.96 percent.

The local currency was trading at 1,322.60 won against the US dollar, down 2.4 won from the previous session's close. (Yonhap)