Kospi opens lower as investors await U.S. Fed rate decision

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Kospi opens lower as investors await U.S. Fed rate decision

Published: 17 Dec. 2024, 10:53

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

Shares opened lower Tuesday as investors remain cautious ahead of the U.S. Federal Reserve's rate decision this week.

The Kospi fell 14.97 points, or 0.6 percent, to 2,474.00 in the first 15 minutes of trading.

The U.S. central bank is widely expected to cut interest rates for a third straight meeting on Wednesday.

In Seoul, large-cap stocks were mixed.

Samsung Electronics fell 1.62 percent, Hyundai Motor declined 0.47 percent and LG Energy Solution shed 2.26 percent.

Among gainers, SK hynix rose 1.9 percent, Kia climbed 0.52 percent and Samsung Heavy Industries was up 0.06 percent.

The local currency was trading at 1,437.45 won against the U.S. dollar at 9:15 a.m., up 2.45 won from the previous session.

Yonhap