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Seoul shares open lower, tracking falls on Wall Street

All News 09:24 October 15, 2020

SEOUL, Oct. 15 (Yonhap) -- South Korean stocks opened lower Thursday, taking a cue from overnight losses in U.S. markets over doubts about a fiscal stimulus plan.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.24 points, or 0.18 percent, to 2,376.24 in the first 15 minutes of trading.

Seoul shares closed down nearly 1 percent Wednesday on renewed concerns that a resurgence in new coronavirus cases dimmed hopes for economic recovery.

Wall Street ended lower Wednesday as investor sentiment was chilled by expectations that a U.S. stimulus package will not be approved soon. The Dow Jones Industrial Average fell 0.58 percent, and the tech-heavy Nasdaq Composite declined 0.8 percent.

Market kingpin Samsung Electronics declined 0.99 percent, while No. 2 chipmaker SK hynix added 0.35 percent.

Top automaker Hyundai Motor shed 0.28 percent, and its affiliate Kia Motors lost 0.31 percent.

Big Hit Entertainment, the management agency of K-pop phenoms BTS, rose 27.78 percent on the first day of trading after it jumped the daily limit of 30 percent as soon as the market opened.

The local currency was trading at 1,145.60 won to the U.S. dollar as of 9:15 a.m., up 1.3 won from the previous session's close.

sooyeon@yna.co.kr
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