Korean shares open lower as investors cash in profits

Published January 24, 2024 - 10:09 a.m.

Shares opened lower Wednesday as investors sought profits.

The Kospi fell 12.29 points, or 0.5 percent, to 2,466.32 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average closed 0.25 percent lower as investors cashed in profits, while the tech-heavy Nasdaq added 0.43 percent.

In Seoul, Samsung Electronics moved down 1.2 percent, and SK hynix shed 1.21 percent.

Hyundai Motor moved down 0.7 percent, and Kia lost 1.02 percent. Hyundai Mobis decreased 1.46 percent.

Posco International, meanwhile, shot up 4.96 percent.

The local currency was trading at 1,338.4 won against the dollar, up 5 won from the previous session's close.

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