Seoul - South Korean stocks opened lower on Friday, following overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 20.68 points, or 0.85 percent, in the early trading session. This decline was influenced by remarks from US Federal Reserve Chair Jerome Powell hinting at potential further interest rate hikes.
According to Yonhap news Agency, the Dow Jones Industrial Average and the Nasdaq Composite in the US also experienced losses, falling 0.7 percent and 0.9 percent respectively.
In Seoul, major companies such as Samsung Electronics, LG Energy Solution, POSCO Holdings, and SK Innovation saw their stock prices decrease. The South Korean won also weakened against the US dollar, trading at 1,318.75 won in the morning session. These market movements reflect global financial market sensitivity to US monetary policy and its implications for international economies.