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Seoul shares open lower on Wall Street losses

All News 09:25 November 10, 2022

SEOUL, Nov. 10 (Yonhap) -- South Korean stocks opened lower Thursday on an overnight dip on Wall Street amid the upcoming U.S. midterm election results and a crash in cryptocurrencies.

The benchmark Korea Composite Stock Price Index (KOSPI) had declined 11.13 points, or 0.46 percent, to 2,413.28 points as of 9:15 a.m.

The Dow Jones Industrial Average dropped 1.95 percent Wednesday, with the tech-heavy NASDAQ Composite and S&P 500 retreating 2.48 percent and 2.08 percent, respectively.

Investors are paying keen attention to the results of the U.S. midterm elections. Their appetite for risky assets also dwindled amid volatility in the cryptocurrency markets.

In Seoul, market bellwether Samsung Electronics lost 1.29 percent, and No. 2 chipmaker SK hynix dipped 0.34 percent.

Top automaker Hyundai Motor traded flat, and its smaller affiliate Kia shed 0.89 percent. Chemical giant LG Chem decreased 0.84 percent.

The Korean won was changing hands at 1,367.5 won against the U.S. dollar as of 9:15 a.m., down 2.7 won from the previous session's close.


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