Stocks open lower Thursday on overnight dip on Wall Street

Finance

Published: 10 Nov. 2022, 10:31

Stocks open lower Thursday on overnight dip on Wall Street

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets on Thursday morning. [YONHAP]

Stocks opened lower Thursday on an overnight dip on Wall Street amid U.S. midterm election results and a crash in cryptocurrencies.

The benchmark Kospi declined 11.13 points, or 0.46 percent, to 2,413.28 points as of 9:15 a.m.

The Dow Jones Industrial Average dropped 1.95 percent Wednesday, with the tech-heavy Nasdaq Composite and S&P 500 retreating 2.48 percent and 2.08 percent, respectively.

Investors are paying keen attention to the results of the U.S. midterm elections. Their appetite for risky assets also dwindled amid volatility in the cryptocurrency market.

In Seoul, Samsung Electronics lost 1.29 percent, and SK hynix dipped 0.34 percent.

Hyundai Motor traded flat, and its affiliate Kia shed 0.89 percent. LG Chem decreased 0.84 percent.

The won was changing hands at 1,367.5 won against the dollar as of 9:15 a.m., up 2.7 won from the previous session's close.

BY CHO JUNG-WOO, YONHAP [cho.jungwoo1@joongang.co.kr]