Home > Business > Finance

Kospi opens lower on tech losses

Published: 27 May. 2025, 10:18

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 27. [YONHAP]

Shares opened lower Tuesday, led by losses in tech shares following sharp gains in the previous session.

The Kospi lost 3.4 points, or 0.13 percent, to fall to 2,641 in the first 15 minutes of trading.

The index rose more than 2 percent Monday, driven by gains in large-cap chip and battery shares, after U.S. President Donald Trump extended the deadline for imposing aggressive tariffs on the European Union.

U.S. stock markets were closed Monday in observance of Memorial Day.

In Seoul on Tuesday, most top-cap shares opened lower.

Market bellwether Samsung Electronics lost 0.55 percent, and chip giant SK hynix tumbled 0.49 percent.

Leading battery maker LG Energy Solution sank 1.26 percent, and industry leader LG Chem went down 1.33 percent. No. 1 steelmaker Posco Holdings fell 1.14 percent.

Major bio firm Samsung Biologics declined 0.48 percent, and leading financial firm KB Financial fell 0.39 percent.

Carmakers opened mixed. Top automaker Hyundai Motor shed 0.22 percent, while its sister affiliate Kia edged up 0.11 percent.

But defense giant Hanwha Aerospace surged 3.12 percent, and major biopharmaceutical Celltrion advanced 1.83 percent.

The local currency was trading at 1,366.3 won against the greenback at 9:15 a.m., down 1.9 won from the previous session.

Yonhap