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Seoul shares open lower on Wall Street plunge

Sept. 30, 2022 - 09:35 By Yonhap
An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)

Seoul stocks opened lower Friday, taking a cue from overnight losses on Wall Street that stemmed from growing recession fears.

The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.64 points, or 0.35 percent, to 2,163.29 points in the first 15 minutes of trading.

The market has been in the doldrums, as the key stock index closed at the lowest since July 2020 this week.

In Seoul, market bellwether Samsung Electronics slid 0.962 percent, while chip giant SK hynix jumped 2.35 percent.

Battery maker LG Energy Solutions dipped 1.02 percent, top automaker Hyundai Motor lost 0.55 percent, and its affiliate Kia also decreased 0.67 percent.

The Korean won had been trading at 1,433.65 won against the US dollar as of 9:15 a.m., up 5.25 won from the previous session's close. (Yonhap)