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Stocks open lower before U.S. jobs data

Published: 05 Dec. 2023, 09:58 Updated: 05 Dec. 2023, 10:17

KIM JU-YEON
[email protected]

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Tuesday. [NEWS1]

Shares got off to a weak start Tuesday, tracking overnight losses on Wall Street.

The Kospi retreated 17.21 points, or 0.68 percent, to 2,497.74 in the first 15 minutes of trading.

On Monday, all three major U.S. indexes lost ground before job market data later this week, including an October update on job openings.

The S&P 500 gave back 0.54 percent after hitting its highest level in over a year the previous session. The Dow Jones Industrial Average dropped 0.11 percent, and the Nasdaq Composite lost 0.84 percent.

In Seoul, most large-cap stocks started in negative territory.

Samsung Electronics fell 0.96 percent, and SK hynix retreated 1.45 percent.

LG Energy Solution decreased 0.7 percent, and Samsung SDI went down 0.11 percent.

Posco Future M plunged 4.89 percent after posting a 10.38 percent hike the previous day.

Auto shares also went south, with Hyundai Motor down 0.22 percent and Kia declining 0.59 percent.

LG Chem lost 1.16 percent, and Posco Holdings slid 1.68 percent.

The local currency was trading at 1,311.00 won against the dollar, up 7 won from the previous session's close.

BY KIM JU-YEON, YONHAP [[email protected]]