Kospi opens flat as investors await U.S. inflation data

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Kospi opens flat as investors await U.S. inflation data

Published: 14 May. 2024, 09:42 Updated: 14 May. 2024, 10:48

KIM JU-YEON
[email protected]

A screen in Hana Bank's trading room in central Seoul shows stock market prices as it closed on Monday. [YONHAP]

Shares opened almost flat Tuesday as investors awaited a key U.S. inflation report set to be released later this week.

The Kospi gained 0.51 points, or 0.02 percent, to 2,727.72 in the first 15 minutes of trading.

Overnight, the S&P 500 closed almost flat, while the Dow Jones Industrial Average fell 0.2 percent. The tech-heavy Nasdaq Composite gained 0.3 percent.

Investors' eyes are on the U.S. Consumer Price Index data for April due out Wednesday, which will give clues for the future course of the U.S. Federal Reserve's key rate decision.

In Seoul, Samsung Electronics shed 0.26 percent, and SK hynix dropped 0.33 percent.

Financial shares also lost ground, with KB Financial Group plunging 3.68 percent and Hana Financial Group retreating 1.73 percent.

Battery and auto shares gained ground.

LG Energy Solution gained 0.66 percent, Samsung SDI edged up 0.12 percent and Posco Future M climbed 1.45 percent.

Hyundai Motor increased 0.41 percent, and Kia went up 0.35 percent.

Naver also advanced 1.25 percent, and Kakao grew 0.53 percent.

The local currency was trading at 1,368.20 won against the dollar, unchanged from the previous session's close.

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