Kospi opens lower as investors await U.S. inflation data

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Kospi opens lower as investors await U.S. inflation data

Published: 11 Sep. 2024, 10:48

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Wednesday. [YONHAP]

Shares started a tad lower Wednesday as investors await the latest U.S. inflation data that would give clues for the U.S. Federal Reserve's upcoming rate-setting decision.

The benchmark Kospi opened slightly higher but lost 0.13 percent, or 3.33 points, to 2,520.1 in the first 15 minutes of trading.

On Wall Street, U.S. stocks closed mixed amid rising slowdown concerns. The Dow Jones Industrial Average edged down 0.2 percent, and the Nasdaq composite rose 0.8 percent.

In Seoul, Samsung Electronics fell 1.51 percent, and carmaker Hyundai Motor dropped 2.16 percent.

But SK hynix rose 0.39 percent, and LG Display, a supplier to Apple's iPhone, advanced 0.39 percent.

Battery maker LG Energy Solution increased 1.19 percent, and the state-run electricity giant Korea Electric Power Corporation (Kepco) climbed 2.08 percent.

The local currency was trading at 1,343.5 won against the dollar, down 0.2 won from the previous session.

BY YOON SEUNG-JIN, YONHAP [yoon.seungjin@joongang.co.kr]