Seoul shares open nearly flat after sharp slide

Home > Business > Finance

print dictionary print

Seoul shares open nearly flat after sharp slide

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

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

 
Stocks opened nearly flat Wednesday, as big-cap shares rebounded from recent deep losses.
 
The Kospi shed 1.37 points, or 0.06 percent, to 2,487.65 in the first 15 minutes of trading.
 
Overnight, U.S. shares fell on renewed concerns about the banking sector instability after the First Republic Bank reported a drop in deposits in the first quarter and its stock sank nearly 50 percent.
 
The Dow Jones Industrial Average lost 1.02 percent, while the tech-heavy Nasdaq Composite tumbled 1.98 percent.
 
Major tech shares opened higher.
 
Market bellwether Samsung Electronics rose 0.63 percent, and battery maker LG Energy Solution added 0.36 percent.
 
Chipmaker SK hynix surged 3.27 percent after it reported 3.4 trillion won of losses in the first quarter on sagging global demand for chips. It is the worst ever quarterly result for the chipmaker.
 
Chemical firm LG Chem went down 1.08 percent.
 
Carmakers got off to a strong start, with Hyundai Motor advancing 1.99 percent and Kia jumping 2.42 percent.

 
Posco Holdings dropped 2.11 percent, and battery components maker Posco Future M skidded 2.73 percent.
 
The local currency was trading at 1,339.6 won against the dollar as of 9:15 a.m., up 7.4 won from the previous session's close.

Yonhap
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)