Seoul:Shares in Seoul opened lower on Wednesday, despite positive movements in U.S. markets and a decrease in oil prices and bond yields.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) started the day 1.11 percent lower but reduced its losses to trade down 18.8 points, or 0.27 percent, at 6,922.59 by 9:15 a.m.
Global market trends showed a decline in oil prices and a drop in bond yields from their multidecade highs. In contrast, the U.S. market saw gains with the Dow Jones Industrial Average rising 0.49 percent, and the Nasdaq Composite increasing 0.45 percent to a record high.
In the Seoul market, the performance of large-cap stocks was mixed. SK hynix, a major player in the chip industry, fell by 1.02 percent, and LG Electronics saw a decline of 2.37 percent. Hyundai Motor dropped by 1.44 percent, while POSCO Holdings, a leading steelmaker, decreased by 2.83 percent. Conversely, Samsung Electronics, the market bellwether, increased by 2.21 percent, and Amorepacific, a cosmetics company, rose by 4.2 percent.
The Korean won was trading at 1,340.05 against the U.S. dollar, which is a decrease of 1.95 won compared to the previous session's closing.