South Korea's Kospi 1.2% Lower; Battery, Shipbuilding Stocks Retreat -- Market Talk

Dow Jones11-29 08:18

0018 GMT - South Korea's benchmark Kospi falls 1.2% to 2474.57 in early trade as electric-vehicle battery and shipbuilding stocks retreat. Foreign and institutional investors are net sellers. EV battery makers LG Energy Solution and Samsung SDI are down 2.7% and 3.7%, respectively. Shipbuilder Hanwha Ocean retreats 3.2%, leading a broad fall on profit taking after recent gains in shipmakers. Index heavyweight Samsung Electronics is down 1.6%. USD/KRW is 0.1% lower at 1,394.30, compared with the prior session's Seoul onshore trading close. The South Korean 10-year government bond yield is down 9.2 bps at 2.788%. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

November 28, 2024 19:18 ET (00:18 GMT)

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