Kospi opens lower as tech and auto shares slide

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Kospi opens lower as tech and auto shares slide

Published: 26 Jun. 2024, 09:58 Updated: 26 Jun. 2024, 10:51

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,774.39 points on Tuesday, up 0.35 percent, or 9.66 points, from the previous trading session. [YONHAP]

Shares opened lower Wednesday as big-cap tech and auto shares started in negative territory.

The Kospi fell 5.23 points, or 0.19 percent, to 2,769.16 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average fell 0.76 percent, while the Nasdaq composite and S&P 500 gained 1.26 percent and 0.39 percent, respectively, as megacap tech shares gained ground.

In Seoul, Samsung Electronics lost 0.87 percent, while SK hynix jumped 3.33 percent.

LG Energy Solution was flat, while Samsung SDI rose 0.41 percent.

Financial shares started off weak, with KB Financial Group down 1.27 percent and Shinhan Financial Group down 1.48 percent.

Steel giant Posco Holdings dropped more than 1 percent, and LG Chem also shed 0.57 percent.

The local currency was trading at 1,391.50 won against the dollar, up 4.0 won from the previous session's close.

BY CHOI HAE-JIN, YONHAP [choi.haejin@joongang.co.kr]