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Kospi opens lower on overnight Wall Street losses

Published: 16 Apr. 2025, 10:37

Korean benchmark Kospi starts lower on April 16, as shown in his picture taken at a trading room in central Seoul. [YONHAP]

Korean stocks opened slightly lower Wednesday, in line with overnight U.S. stock losses amid lingering uncertainty stemming from President Donald Trump's tariff measures.

The benchmark Kospi dropped 9.02 points, or 0.36 percent, to 2,468.39 in the first 15 minutes of trading.

Overnight, Wall Street closed slightly lower as lingering tariff uncertainty swayed investors to move to the sidelines. The S&P 500 fell 0.17 percent, the Dow Jones Industrial Average shed 0.38 percent and the tech-heavy Nasdaq composite slid 0.05 percent.

In Seoul, semiconductor shares led the overall decline.

Market heavyweight Samsung Electronics slipped 1.41 percent, and its chip rival SK hynix dropped 2.66 percent following Washington's decision to impose new curbs on Nvidia's H20 AI chip exports to China.

Automotive and bio shares also retreated. Top automaker Hyundai Motor slumped 1.39 percent, and leading bio firm Samsung Biologics dipped 0.48 percent.

In contrast, battery and financial shares advanced. Top battery manufacturer LG Energy Solution jumped 1.45 percent, while Kookmin Financial added 0.26 percent.

The local currency was trading at 1,429.5 won against the dollar at 9:15 a.m., down 4 won from the previous session.

Yonhap