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Kospi opens lower as it tracks overnight losses on Wall Street

Published: 21 Feb. 2025, 10:31

A woman passes by a screen in Hana Bank's trading room in central Seoul on Feb.20. [YONHAP]

Shares opened lower Friday, tracking overnight losses on Wall Street, with concerns over U.S. trade tariffs weighing on investor sentiment.

The Kospi fell 6.74 points, or 0.25 percent, to 2,647.32 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average fell 1.01 percent to 44,176.65 points and the tech-heavy Nasdaq composite declined 0.47 percent to 19,962.36.

The U.S. government plans to announce fresh tariffs on cars, semiconductors and pharmaceuticals over the next month or sooner.

It already imposed a 25 percent tariff on all steel and aluminum imports, escalating worries over a global trade war.

In Seoul, tech and shipbuilding stocks led declines.

Samsung Electronics fell 1.2 percent, and SK hynix declined 1.65 percent.

HD Hyundai Heavy Industries shed 3.6 percent, and Hanwha Ocean shed 3.7 percent.

Among gainers, top carmaker Hyundai Motor rose 1.23 percent and LG Energy Solution gained 0.13 percent.

LG Chem advanced 1.22 percent, and Korean Air was up 0.82 percent.

The local currency was trading at 1,434.10 won against the dollar at 9:15 a.m., down 3.8 won from the previous session.

Yonhap