Kospi opens lower as investors lock in profits

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Kospi opens lower as investors lock in profits

Published: 24 Mar. 2025, 10:08

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 24. [YONHAP]

Seoul shares opened lower Monday, bucking gains on Wall Street, as investors moved to lock in profits from recent gains.

The Kospi fell 8.4 points, or 0.32 percent, to 2,634.73 in the first 15 minutes of trading.

On Friday, U.S. stocks closed higher, with the Dow Jones Industrial Average rising 0.08 percent and the tech-heavy Nasdaq composite gaining 0.52 percent.

The Kospi had risen for five consecutive sessions through Friday, aided by gains in big techs.

Tech stocks were lead decliners.

Samsung Electronics fell 1.3 percent, and SK hynix dropped 1.86 percent.

Posco Holdings shed 4.14 percent, and Korean Air was down 0.22 percent.

Among gainers, Hyundai Motor rose 0.24 percent, and LG Energy Solution advanced 1.52 percent.

SK Innovation rose 1.13 percent, and Hanwha Aerospace jumped 4.14 percent.

The local currency was trading at 1,462.75 won against the greenback at 9:15 a.m., up 0.05 won from the previous session.

Yonhap