Korea's shares open tad lower as traders stay cautious

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Korea's shares open tad lower as traders stay cautious

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,455.12 points on Monday, up 3.91 points, or 0.16 percent, from the previous trading day. [NEWS1]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,455.12 points on Monday, up 3.91 points, or 0.16 percent, from the previous trading day. [NEWS1]

 
Stocks opened slightly lower Tuesday as traders remained uncertain about the U.S. Federal Reserve's future monetary policy to curb inflation.
 
The benchmark Kospi had shed 7.36 points, or 0.3 percent, to 2,447.76 in the first 15 minutes of trading.
 
U.S. financial markets closed Monday for the Presidents' Day holiday.
 
On Friday, Wall Street ended mixed as stronger-than-expected U.S. inflation readings and a low unemployment rate reinforced investors' fears that the Fed might raise borrowing rates more aggressively to bring down persistently high inflation.
 
In Seoul, most big-cap stocks got off to a weak start, with tech shares leading the losses.
 
Samsung Electronics fell 0.96 percent, and chipmaker SK hynix lost 1.51 percent.
 
Samsung Biologics lost 0.62 percent, and Celltrion fell 0.38 percent.
 
Automaker Hyundai Motor went down 0.06 percent, and its affiliate Kia shed 0.13 percent.
 
Among gainers, battery maker LG Energy Solution rose 0.39 percent and LG Chem gained 1.05 percent.
 
The local currency was trading at 1,297 won against the dollar as of 9:15 a.m., up 2.5 won from the previous session's close.

Yonhap
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