Seoul stocks open tad lower as investors digest Fed event

A screen in Hana Bank's trading room in central Seoul shows stock and foreign exchange markets open on Friday. [NEWS1]

Seoul shares opened slightly lower Friday as investors digest the U.S. Federal Reserve's latest rate decision earlier this week.

The benchmark Kospi slipped 2.98 points, or 0.12 percent, to 2,465.9 points as of 9:23 a.m.

Overnight, the tech-heavy Nasdaq Composite jumped 3.25 percent, while the Dow Jones Industrial Average slipped 0.11 percent.

The Fed raised the benchmark lending rate by 25 basis points on Wednesday as expected.

Investors are weighing eased uncertainties from the Fed's monetary policy and the disappointing earnings from U.S. tech companies.

In Seoul, Samsung Electronics edged up 0.16 percent, while chipmaker SK hynix dropped 0.43 percent.

Carmaker Hyundai Motor climbed 0.35 percent, with car battery maker LG Energy Solution inching up 0.19 percent. Chemical firm LG Chem declined 1.33 percent.

The local currency was trading at 1,225.4 won against the dollar as of 9:23 a.m., up 5.1 won from the previous session's close.

Yonhap