Seoul stocks open lower on Credit Suisse rout
Published: 16 Mar. 2023, 09:51
Updated: 16 Mar. 2023, 10:13
![A screen in Hana Bank's trading room in central Seoul shows stock and foreign exchange markets close on Wednesday. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2023/03/16/3da0ce5d-4d31-4b39-be99-d3f1038de4e0.jpg)
A screen in Hana Bank's trading room in central Seoul shows stock and foreign exchange markets close on Wednesday. [NEWS1]
Stocks opened sharply lower Thursday on worries that global investment bank Credit Suisse's fiasco may spread to other financial institutions.
The benchmark Kospi shed 24.03 points, or 1.01 percent, to 2,355.69 points in the first 15 minutes of trading.
Investors remained worried that Swiss-based Credit Suisse, hit by scandals and losing confidence from investors, may face further uncertainties down the road.
On Wednesday, Seoul stocks rebounded from the aftermath of the failure of two U.S. banks.
In Seoul, top cap Samsung Electronics lost 1 percent, and chipmaker SK hynix retreated 1.01 percent.
Battery maker LG Energy Solution gained 0.53 percent, and chemical firm LG Chem added 0.83 percent.
The local currency was changing hands at 1,315.7 won against the dollar as of 9:15 a.m., up 12 won from the previous session's close.
Yonhap
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)