SEOUL — The Seoul stock market opened lower on Wednesday, with significant losses in big-cap tech and auto shares. The Korea Composite Stock Price Index (KOSPI) declined by 5.23 points or 0.19 percent, settling at 2,769.16 in the initial 15 minutes of trading. This downturn follows mixed results in U.S. markets, where the Dow Jones Industrial Average saw a decrease, while tech-heavy indexes like the Nasdaq Composite recorded gains.
According to Yonhap News Agency, tech giant Samsung Electronics saw a decrease of 0.87 percent, while chipmaker SK Hynix experienced a notable rise of 3.33 percent, influenced by gains in AI chip leader Nvidia. In contrast, LG Energy Solution remained unchanged, and its competitor Samsung SDI saw a minor increase. Financial stocks also showed weakness, with KB Financial Group and Shinhan Financial Group reporting declines of 1.27 percent and 1.48 percent, respectively. Additionally, POSCO Holdings and LG Chem reported losses, contributing to the broader market downturn. The local currency, the won, weakened against the U.S. dollar, trading at 1,391.50, down by 4.0 won from the previous close.