SEOUL - South Korean stocks opened lower on Friday, influenced by cautious investor sentiment following recent U.S. economic data suggesting a potential slowdown in the world's largest economy. The Korea Composite Stock Price Index (KOSPI) dropped 17.12 points, or 0.69 percent, to 2,471.06 in early trading. This downward trend mirrored overnight movements in the U.S., where the Dow Jones Industrial Average slightly fell and the Nasdaq Composite saw a marginal increase.
According to Yonhap News Agency, The concern among investors was fueled by data showing a three-month high in U.S. unemployment benefit claims and a 0.6 percent decrease in industrial output in October. In Seoul's stock market, major companies such as Samsung Electronics and LG Energy Solution saw declines, as did leading automakers Hyundai Motor and Kia. The local currency, meanwhile, was trading marginally higher against the U.S. dollar.