Kospi dips slightly after previous rally

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Kospi dips slightly after previous rally

Published: 17 May. 2024, 09:48 Updated: 17 May. 2024, 10:50

KIM JU-YEON
[email protected]

Screens in Hana Bank's trading room in central Seoul show stock markets close on Thursday. [YONHAP]

Shares started a tad lower Friday following the previous day's rally amid hopes for a U.S. rate cut.

The Kospi shed 6.19 points, or 0.22 percent, to 2,746.81 in the first 15 minutes of trading.

On Wall Street, major stock indexes closed lower Thursday after their record high on the previous day on data showing a slowdown in inflation.

The Dow Jones Industrial Average fell 0.1 percent, and the Nasdaq Composite lost 0.26 percent.

In Seoul, most shares traded in mixed territory.

SK hynix and LG Energy Solution stayed flat.

SK Innovation declined 1 percent, and Posco Holdings fell 0.62 percent.

But Samsung Electronics rose 0.38 percent and Kia climbed 0.09 percent.

The local currency was trading at 1,352.25 won against the dollar, up 7.25 won from the previous session's close.

BY KIM JU-YEON [[email protected]]