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Kospi opens slightly lower ahead of key inflation data

Published: 10 Mar. 2025, 10:01

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 10. [YONHAP]

Seoul shares started a tad lower Monday ahead of key U.S. inflation data amid escalating uncertainty over U.S. tariff policies.

The Kospi lost 1.08 points, or 0.04 percent, to 2,562.40 in the first 15 minutes of trading.

Federal Reserve Chair Jerome Powell said last week that the U.S. economy is solid and he has no plan to adjust monetary policy hurriedly, calming the uncertainty for the world's largest economy.

The U.S. consumer price index will be released on Wednesday, serving as a key barometer for the central bank to decide its benchmark rates.

The U.S. government said steel and aluminum tariffs will be effective from Wednesday, raising concerns over a possible trade war across the globe.

In Seoul, major shares lost ground.

Posco Holdings sank 3 percent, and SK hynix retreated 1.2 percent.

LG Chem declined 1.8 percent, and Samsung Biologics decreased 1.82 percent.

However, Samsung Electronics rose 0.74 percent, and Hyundai Motor added 0.31 percent.

The local currency was trading at 1,448.3 won against the U.S. dollar at 9:15 a.m., up 0.8 won from the previous session.

Yonhap