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Seoul shares open lower ahead of US rate decision

By Yonhap

Published : Dec. 17, 2024 - 09:48

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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)

Seoul shares opened lower Tuesday as investors remain cautious ahead of the US Federal Reserve's rate decision this week.

The benchmark Korea Composite Stock Price Index fell 14.97 points, or 0.6 percent, to 2,474.00 in the first 15 minutes of trading.

The US central bank is widely expected to cut interest rates for a third straight meeting on Wednesday.

In Seoul, large-cap stocks were mixed.

Market behemoth Samsung Electronics fell 1.62 percent, leading carmaker Hyundai Motor declined 0.47 percent and leading battery maker LG Energy Solution shed 2.26 percent.

Among gainers, No. 2 chipmaker SK hynix rose 1.9 percent, No. 2 carmaker Kia climbed 0.52 percent and shipbuilder Samsung Heavy Industries was up 0.06 percent.

The local currency was trading at 1,437.45 won against the US dollar at 9:15 a.m., down 2.45 won from the previous session. (Yonhap)

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