Kospi remains flat as investors play waiting game on U.S. data

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Kospi remains flat as investors play waiting game on U.S. data

Published: 28 Feb. 2024, 10:45

LEE SOO-JUNG
lee.soojung1@joongang.co.kr

Screens in Hana Bank's trading room in central Seoul shows the stock market price as it opens on Wednesday. [YONHAP]

Stocks started nearly flat Wednesday as investors took a wait-and-see approach ahead of key economic indicators set to be released in the United States this week.

The Kospi edged up 0.78 points, or 0.03 percent, to 2,625.83 in the first 15 minutes of trading.

Overnight, the U.S. stock market closed mixed, with the Dow Jones Industrial Average falling 0.25 percent while the tech-heavy Nasdaq composite added 0.37 percent.

The United States is set to announce the personal consumption expenditures price index Thursday (local time), as well as fourth-quarter GDP growth Wednesday.

In Seoul, Samsung Electronics moved up 0.27 percent. SK hynix added 0.59 percent.

Steelmakers gathered ground as well, with Posco Holdings rising 2.58 percent.

Financial firms, on the other hand, kicked off lower, with KB Financial falling 0.48 percent and Shinhan Financial losing 0.24 percent.

The local currency was trading at 1,332.3 won against the dollar, up 1.3 won from the previous session's close.

BY LEE SOO-JUNG, YONHAP [lee.soojung1@joongang.co.kr]