Stocks open mixed as investors await China's economic data

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Stocks open mixed as investors await China's economic data

Published: 05 Jul. 2023, 10:37

Screens in Hana Bank's trading room in central Seoul show foreign and stock markets open on Wednesday. [YONHAP]

Stocks opened higher but entered negative domain shortly after on Wednesday, ahead of China's purchasing managers' index announcements.

The Kospi fell 2.17 points, or 0.08 percent, to 2,591.14 in the first 15 minutes of trading.

Wall Street was closed Tuesday for the Independence Day holiday.

Later in the day, China is set to release the Caixin purchasing managers' index.

In Seoul, most large-cap shares opened in negative terrain.

Samsung Electronics dipped 0.27 percent, and SK hynix fell more than 1 percent.

LG Energy Solution and Samsung SDI both fell more than 0.8 percent. LG Chem also retreated over 1 percent.

Hyundai Motor remained flat, but Kia edged down 0.22 percent.

Bio stocks gained ground. Samsung Biologics shot up more than 2 percent, and Celltrion jumped 1.87 percent.

Financial shares also advanced. KB Financial Group rose almost 1 percent, Shinhan Financial Group gained 0.44 percent and Hana Financial Group 0.51 percent.

The local currency was trading at 1,300.00 won against the dollar at 9:15 a.m., down 1.4 won from Tuesday's close.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]