Kospi opens lower as auto shares slump

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Kospi opens lower as auto shares slump

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,722.85 points on Tuesday, down 0.01 percent, or 0.14 points, from the previous trading session. [YONHAP]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,722.85 points on Tuesday, down 0.01 percent, or 0.14 points, from the previous trading session. [YONHAP]

 
Stocks opened lower Wednesday, bucking overnight gains on Wall Street as auto and chemical shares slumped.
 
The Kospi fell 4.19 points, or 0.15 percent, to 2,718.66 in the first 15 minutes of trading.
 
Overnight, the tech-heavy Nasdaq composite closed at an all-time high by advancing 0.59 percent, while the Dow Jones Industrial Average moved down 0.55 percent.
 
The United States is set to release April's Personal Consumption Expenditures index on Friday (U.S. time).
 
In Seoul, Hyundai Motors fell 0.94 percent, and Kia moved down 0.33 percent. Hyundai Mobis decreased 1.6 percent.
 
LG Chem lost 2.3 percent, and SK Innovation slid 1.52 percent.
 
Samsung Electronics, on the other hand, gained 0.39 percent, and SK hynix climbed 1.23 percent.
 
The local currency was trading at 1,366.4 won against the dollar, up 7.9 won from the previous session's close.

BY CHOI HAE-JIN, YONHAP [[email protected]]
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