Seoul shares open lower ahead of U.S. debt ceiling vote

Stocks opened slightly lower Thursday as investors stay wary of the planned vote by the U.S. Congress on lifting the federal debt ceiling.

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Wednesday. [YONHAP]

Stocks opened slightly lower Thursday as investors stay wary of the planned vote by the U.S. Congress on lifting the federal debt ceiling.

The Kospi fluctuated between positive and negative territory before dropping 7.28 points, or 0.28 percent, to 2,569.84 in the first 50 minutes of trading.

U.S. stocks closed lower Wednesday as the House of Representatives was set to vote on a bill to raise the $31.4 trillion debt limit to avoid a default. The bill needs to get congressional approval before Monday.

Data indicating a strong U.S. jobs market in April stoked jitters over the possibility of the Federal Reserve hiking the interest rate at the next policy meeting set to begin on June 13.

Large-cap tech stocks traded mixed on the Kospi, with Samsung Electronics losing 0.14 percent and battery maker Samsung SDI rising 0.3 percent.

SK hynix fell almost 1.5 percent, and Hyundai Motor was down about 1 percent.

Energy company SK Innovation advanced 2.4 percent.

The local currency was trading at 1,319.70 won against the dollar at around 9:15 a.m., down 7.5 won from Wednesday's close.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]