Seoul Stock Market Opens Nearly Unchanged as Investors Eye US Inflation Report

Seoul - South Korean stocks opened nearly unchanged on Tuesday as investors awaited a crucial U.S. inflation report due later in the week. The Korea Composite Stock Price Index saw a slight increase of 0.51 point, or 0.02 percent, reaching 2,727.72 within the first fifteen minutes of trading.

According to Yonhap News Agency, this cautious opening reflects broader global market trends, including nearly flat performances in the SandP 500 and a slight decrease in the Dow Jones Industrial Average, while the Nasdaq composite saw modest gains.

Investors are particularly focused on the upcoming U.S. Consumer Price Index data for April, expected to influence the Federal Reserve's interest rate decisions. In the Seoul market, technology giant Samsung Electronics and second-largest chipmaker SK hynix experienced declines, whereas sectors like batteries and automobiles saw gains. Notably, leading battery maker LG Energy Solution and top automaker Hyundai Motor recorded stock increases. The local currency remained stable against the U.S. dollar, holding at 1,368.20 won.

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