Seoul shares opened lower Friday, tracking overnight losses on Wall Street after investors cashed in profits from major tech shares despite signs of cooling U.S. inflation.The benchmark Korea Composite Stock Price Index shed 23.8 points, or 0.82 percent, to 2,867.55 in the first 15 minutes of trading.Overnight, the tech-heavy Nasdaq Composite plunged 1.95 percent, and the S and P 500 dipped 0.88 percent. The Dow Jones Industrial Average, on the other hand, increased 0.08 percent.The U.S. inflation for June fell 0.1 percent from a month earlier, marking the first on-month decline since May 2020, sparking hope for a rate cut by the Federal Reserve later this year.Losses from major tech shares, however, weighed down on the market with Nvidia crashing 5.57 percent and Tesla sinking 8.44 percent.In Seoul, top tech giant Samsung Electronics plunged 2.63 percent, and No. 2 chipmaker SK hynix slid 3.53 percent.Leading carmaker Hyundai Motors moved down 0.72 percent, while its sister Kia added 0.08 percen t. Auto parts maker Hyundai Mobis decreased 0.85 percent.Pharmaceutical firms, on the other hand, started higher, with Samsung Biologics rising 0.49 percent and Celltrion climbing 1.13 percent.The local currency was trading at 1,373.7 won against the U.S. dollar at 9:15 a.m., up 5.1 won from the previous session's close.Source: Yonhap News Agency

Recent Posts
Festival Celebrating Taiwanese Culture with Bubble Tea Rocks Maryland
September 20, 2026
Lai Outlines 4 Priorities for Taiwan’s Cultural Future at Congress
September 20, 2026
Taiwan Carriers EVA Air and Starlux Secure Prestigious Skytrax Awards
September 20, 2026
Taiwan Secures Silver Medals in Men’s and Women’s Soft Tennis at Asian Games
September 20, 2026
Labor Minister Heads to China for APEC Meeting
September 20, 2026
Ozone Recovery a Rare Success Story, Says Tang Prize Laureate Susan Solomon
September 19, 2026
AI-Driven Inflation Manageable: Central Bank
September 19, 2026