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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap) |
South Korean stocks opened slightly lower Friday as Wall Street experienced a sharp drop on weaker-than-expected earnings from tech heavyweights.
The benchmark Korea Composite Stock Price Index (Kospi) fell 0.24 point, or 6.06 percent, to 2,550.09 in the first 15 minutes of trading.
Overnight, U.S. stocks finished sharply lower. The Dow Jones Industrial Average declined 0.9 percent and the Nasdaq Composite dropped 2.8 percent after a disappointing outlook from Meta Platforms and Microsoft.
In Seoul, large-cap shares started in mixed territory.
Market bellwether Samsung Electronics climbed 0.51 percent, but its chipmaking rival SK hynix retreated 2.47 percent.
Top carmaker Hyundai Motor remained flat, and its sister Kia added 1.09 percent.
Leading online portal operator Naver dipped 0.29 percent, and major defense firm Hanwha Aerospace edged down 2.45 percent.
The local currency was trading at 1,375.55 won against the U.S. dollar, up 4.35 won from the previous session. (Yonhap)
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