Police raid striking doctors' homes, offices, after deadline passes on return-to-work order
Yoon touts improved Japan ties on Independence Movement Day as gateway to 'new world'
S. Korea, US voice 'deep concern' over NK's definition of S. Korea as 'hostile' country
S.Coups of Seventeen gets military exemption due to knee injury
DP leader Lee retains ticket to his constituency for April elections
Korean stocks benefit from Zuckerberg's Seoul visit
[Weekender] Car camping: How solo female campers enjoy outdoors
NewJeans, Silica Gel win 3 prizes at KMAs; Beenzino nets album of the year
Address by President Yoon Suk Yeol on the 105th March 1st Independence Movement Day
[EYE] A Buddhist temple where animal spirits find peace
Seoul shares open lower on China woes, high yieldsBy Yonhap
Published : Aug. 18, 2023 - 09:37
South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as a Chinese property giant filed for bankruptcy and yields neared record highs.
The benchmark Korea Composite Stock Price Index shed 15.53 points, or 0.62 percent, to 2,504.32 in the first 15 minutes of trading.
Investors were worried about the Chinese economy, as China's Evergrande Group filed for bankruptcy in the United States on Thursday after struggling with over $300 billion in liabilities, according to foreign media reports.
Eyes are also on the Federal Reserve's potential push for further rate hikes to curb inflation and the 10-year US Treasury yield that has stayed near recent highs.
Overnight, the Dow Jones Industrial Average fell 0.84 percent, and the tech-heavy Nasdaq Composite dropped 1.17 percent.
In Seoul, most top-cap shares opened lower.
Market bellwether Samsung Electronics sank 1.05 percent, and leading battery maker LG Energy Solution lost 1.67 percent.
Chip giant SK hynix retreated 0.7 percent, and Samsung SDI dropped 1.81 percent. LG Chem decreased 1.2 percent.
But bio shares rose, with major biotech firm Samsung Biologics adding 0.91 percent.
Celltrion spiked 8.7 percent after it announced a merger with its sales and marketing affiliate Celltrion Healthcare in a bid to become a global drugmaker by streamlining its key operational structure.
Carmakers opened mixed, with top automaker Hyundai Motor rising 0.27 percent and Kia going down 0.26 percent.
The local currency was trading at 1,337.190 won against the US dollar at 9:15 a.m., up 4.1 won from the previous session's close. (Yonhap)
Opposition leader retains ticket to his constituency
Car camping: How solo female campers enjoy outdoors
Tensions loom as doctors plan mass rally in deepening clash over med school quota