South Korea’s KOSPI opens lower despite Wall Street gains — Korea Herald

In South Korea, the benchmark KOSPI stock index opened lower on Monday despite gains on U.S. exchanges at the end of last week. According to the Korea Herald, as of 9:15 a.m., the Korea Composite Stock Price Index had lost 40.16 points, or 0.47%, to 7,040.76.

Trading after Chuseok

Before the holiday break, the KOSPI ended Wednesday with its fourth consecutive session of gains. Trading on the South Korean market was not held on Thursday and Friday due to the Chuseok holiday, which the source describes as the local equivalent of Thanksgiving.

U.S. stock indexes closed higher on Friday, led by technology and industrial companies. The Dow Jones Industrial Average gained 0.93%, the S&P 500 rose 0.51%, and the Nasdaq Composite added 0.48%.

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Brent oil prices settled near $104 per barrel after reports that Iran had proposed a plan to end the conflict.

Shares of major companies

In Seoul, shares of major companies moved in mixed directions. Samsung Electronics shares fell 1.14%, while those of chipmaker SK hynix declined 2.63%. Securities of SK Square, the parent company of SK hynix, lost 3.36%.

Meanwhile, shares of Samsung Electro-Mechanics, an electronic components manufacturer, rose 4.31%. The South Korean won traded at 1,357.1 won per U.S. dollar, 0.1 won below the closing level of the previous trading session.