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Kospi opens lower amid tame inflation data in U.S.

Published: 16 Jul. 2025, 13:36

A screen in Hana Bank's trading room in central Seoul shows the Kospi trading in the morning hours on July 16. [YONHAP]

Shares opened lower Wednesday after weaker-than-expected inflation data in the United States.

The benchmark Kospi fell 29.17 points, or 0.91 percent, to 3,186.11 in the first 15 minutes of trading.

U.S. consumer prices rose 2.7 percent in June, below market expectations, even as companies began passing some tariff-related costs on to consumers, analysts said.

Overnight, U.S. stocks ended mixed, with the Dow Jones Industrial Average falling 0.98 percent to 44,023.29 and the tech-heavy Nasdaq composite rising 0.18 percent to 20,677.80.

In Seoul, most large-cap stocks declined.

Market bellwether Samsung Electronics fell 0.16 percent, chip giant SK hynix declined 1.76 percent, and top carmaker Hyundai Motor shed 0.95 percent.

Leading steelmaker Posco Holdings dropped 1.4 percent, and leading shipbuilder HD Hyundai was down 1.51 percent.

Among gainers, state-run utility Korea Electric Power rose 3.76 percent and top wireless carrier SK Telecom edged up 0.36 percent.

The local currency was trading at 1,387.40 won against the dollar at 9:15 a.m., up 0.52 percent from the previous session's 3:30 p.m. quote of 1,380.2 won.

Yonhap