Stocks open flat on U.S. rate hike owes, worries over Israel-Hamas war
Published: 23 Oct. 2023, 10:30
Updated: 23 Oct. 2023, 10:34
- PARK EUN-JEE
- park.eunjee@joongang.co.kr
The benchmark Kospi lost 1.75 points, or 0.07 percent, to 2,373.25 in the first 15 minutes of trading.
All three major U.S. indexes closed lower Friday amid conflicts in the Middle East and expectations the Fed will continue its rate hikes.
In Seoul, market bellwether Samsung Electronics added 0.29 percent, and the country's No. 2 chipmaker SK hynix gained 0.4 percent.
Auto shares also opened higher, with Hyundai Motor up 0.71 percent and its smaller affiliate Kia up 1.22 percent, following reports Hyundai will build a factory in Saudi Arabia in a joint investment with Saudi's Public Investment Fund.
But battery shares opened lower, with industry leader LG Energy Solution down 0.23 percent and its rival Samsung SDI down 1.56 percent.
The local currency was trading at 1,351.80 won against the U.S. dollar at 9:15 a.m., up 0.6 won from the previous session's close.
BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]
with the Korea JoongAng Daily
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