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Kospi opens lower as tech stocks dip

Published: 21 May. 2024, 09:34 Updated: 21 May. 2024, 10:07

KIM JU-YEON
[email protected]

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

Shares started lower Tuesday as big-cap tech shares fell across the board.

The Kospi shed 10.94 points, or 0.4 percent, to 2,731.20 in the first 15 minutes of trading.

Overnight, major U.S. stock indexes closed mixed, with the Nasdaq composite up 0.7 percent to hit a record high on a chip rally ahead of Nvidia's earnings release Wednesday and S&P 500 up 0.1 percent. The Dow Jones Industrial Average ended 0.5 percent lower.

In Seoul, most big-cap shares started in negative territory.

Samsung Electronics lost 0.51 percent and Hyundai Motor dropped 0.6 percent.

Posco Holdings retreated 1.25 percent, and LG Chem slid 2.43 percent.

Battery shares also lost ground, with LG Energy Solution down 0.81 percent, and Samsung SDI and Posco Future M down 2.24 percent and 2.03 percent, respectively.

SK hynix was among the few gainers, increasing 0.79 percent.

The local currency was trading at 1,363.20 won against the dollar, up 7.3 won from the previous session's close.

BY KIM JU-YEON [[email protected]]