Kospi dips after mixed results on Wall Street

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Kospi dips after mixed results on Wall Street

Published: 04 Jun. 2024, 09:47 Updated: 04 Jun. 2024, 10:09

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,682.52 points on Monday, up 1.74 percent, or 46.00 points, from the previous trading session. [YONHAP]

Stocks opened weaker Tuesday as investors took profit from strong gains the previous session and on mixed overnight results on Wall Street.

The Kospi slid 6.06 points, or 0.23 percent, to 2,676.46 in the first 15 minutes of trading.

Overnight, Wall Street shares finished mixed amid the latest economic indicators showing a slowing of the U.S. economy. The Dow Jones Industrial Average fell 0.3 percent while the Nasdaq composite gained 0.6 percent and the S&P 500 edged up 0.1 percent.

In Seoul, Samsung Electronics fell 0.4 percent and Hyundai Motor slipped 1.89 percent.

Financial shares also lost ground, with KB Financial and Hana Financial shedding 0.63 percent and 0.8 percent, respectively.

In contrast, battery and pharmaceutical stocks advanced. LG Energy Solution gained 0.45 percent and pharmaceutical giant Samsung Biologics rose 0.53 percent.

The local currency was trading at 1,369.9 won against the U.S. dollar, down 6.2 won from the previous session's close.

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