Kospi opens slightly lower as tech sell-off hits Wall Street

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Kospi opens slightly lower as tech sell-off hits Wall Street

Published: 28 Nov. 2024, 10:02

Hana Bank's trading room shows the Kospi opening on Wednesday. [YONHAP]

Shares opened a tad lower Thursday, tracking overnight losses on Wall Street led by declines in big-cap tech shares.

The Kospi shed 3.05 points, or 0.12 percent, to 2,500.01 in the first 15 minutes of trading.

Foreigners were on a selling mode, which offset buying by institutions and retail investors.

Overnight, the Dow Jones Industrial Average fell 0.31 percent and the tech-heavy Nasdaq composite slid 0.6 percent as major tech shares lost ground following marked gains in recent sessions.

In Seoul, Samsung Electronics fell 0.89 percent, and chip giant SK hynix sank 2.79 percent.

However, LG Energy Solution rose 0.87 percent, and LG Chem advanced 1.16 percent.

Carmakers opened higher, as Hyundai Motor increased 0.45 percent and its sister affiliate Kia inched up 0.21 percent.

Financials were under heavy downward pressure. KB Financial Group dropped 1.22 percent, and Shinhan Financial Group dove 3.09 percent.

Posco Holdings gained 0.5 percent, and Naver jumped 1.97 percent.

The local currency was trading at 1,393.85 won against the greenback at 9:15 a.m., down 3.15 won from the previous session.

Yonhap