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Kospi opens lower on foreign selling amid tariff concerns

Published: 08 Aug. 2025, 10:16

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Aug. 8. [YONHAP]

Shares opened lower Friday after a mixed close on Wall Street as foreigners offloaded local stocks amid lingering uncertainties over U.S. import tariffs.

The Kospi fell 4.76 points, or 0.15 percent, to 3,222.92 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average dropped 0.51 percent to 43,968.64, while the tech-heavy Nasdaq Composite rose 0.35 percent to 21,242.70.

In Seoul, steel and energy stocks led the declines.

Leading steelmaker Posco Holdings fell 0.5 percent, and major battery maker LG Energy Solution lost 1.62 percent.

State-run utility firm Korea Electric Power Corp. dropped 3.21 percent, and leading refiner SK Innovation shed 0.92 percent.

Hyundai Motor dipped 0.24 percent, and LG Chem plunged 4.79 percent.

Among gainers, market bellwether Samsung Electronics rose 0.57 percent, and chip giant SK hynix climbed 0.95 percent.

Samsung shares extended gains for a second straight session following news reports that the company will manufacture Apple's next-generation processor at its foundry in Austin, Texas.

The local currency was trading at 1,381.05 won against the greenback at 9:15 a.m., down 0.01 percent from the previous session's figure of 1,381.2 won.

Yonhap