Kospi falls after tracking U.S. losses

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Kospi falls after tracking U.S. losses

Published: 05 Mar. 2024, 10:53

LEE SOO-JUNG
[email protected]

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

Stocks opened lower Tuesday as investors sought profit after a sharp rise in the previous session, with tech and auto shares leading the losses.

The Kospi fell 8.26 points, or 0.31 percent, to 2,666.01 in the first 15 minutes of trading.

Overnight, the U.S. stock market closed lower, with the Dow Jones Industrial Average falling 0.25 percent and the tech-heavy Nasdaq composite losing 0.41 percent.

In Seoul, tech shares opened mostly bearish, with Samsung Electronics falling 0.93 percent and SK hynix losing 1.02 percent.

Hyundai Motors shed 2.54 percent and Kia slid 1.83 percent. Hyundai Mobis added 0.4 percent.

Financial shares, meanwhile, traded higher, with KB Financial rising 1.74 percent and Shinhan Financial increasing 1.02 percent.

The local currency was trading at 1,331.4 won against the dollar, up 0.1 won from the previous session's close.

BY LEE SOO-JUNG, YONHAP [[email protected]]