Shares open lower as investors cash in gains following Fed's rate-cut signals

김주연 2023. 12. 18. 09:47

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The Kospi fell 0.6 points, or 0.02 percent, to 2,562.96 in the first 15 minutes of trading.

Shares opened lower Monday as investors opted to cash in recent gains amid hopes for the U.S. Federal Reserve's rate cuts next year.

The Kospi fell 0.6 points, or 0.02 percent, to 2,562.96 in the first 15 minutes of trading.

Last week, the Fed kept its rates unchanged and hinted at possible cuts for 2024.

Samsung Electronics fell 0.41 percent, and chipmaker SK hynix also lost 0.5 percent.

Carmaker Hyundai Motor also slipped 0.78 percent, and chemical company LG Chem shed 0.41 percent.

Battery makers and refiners, however, gained ground. LG Energy Solution climbed 0.71 percent, and SK Innovation added 0.07 percent.

The local currency was trading at 1,301.15 won against the dollar, up 4.65 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]

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