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Kospi opens lower on U.S. losses as tariff woes continue

Published: 28 Mar. 2025, 09:56

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 28. [YONHAP]

Seoul shares opened lower Friday, tracking losses on Wall Street, as investors remained cautious over a widening trade war by the U.S. government.

The Kospi fell 42.34 points, or 1.62 percent, to 2,564.81 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average fell 0.37 percent, while the tech-heavy Nasdaq composite declined 0.53 percent.

U.S. President Donald Trump is set to impose 25 percent tariffs on all imported vehicles from April 2, a move expected to deal a blow to the Korean automotive industry.

In Seoul, most large-cap stocks declined.

Samsung Electronics fell 2.75 percent, Hyundai Motor declined 3.06 percent and Posco Holdings shed 1.5 percent.

Korean Air dropped 0.9 percent, and Lotte Chemical plunged 5.29 percent.

Among gainers, HD Hyundai Heavy Industries rose 0.36 percent and Amorepacific climbed 1.26 percent.

The local currency was trading at 1,467.35 won against the U.S. dollar at 9:15 a.m., up 2.05 won from the previous session.

Yonhap