April 23, 2024

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[THE INVESTOR] Korean stocks opened lower on Sept. 17 as investors moved to lock in profits from recent gains amid concerns over global trade disputes.

The benchmark KOSPI fell 7.98 points, or 0.34 percent, to 2,310.27 as of 9:15 a.m.

Institutions shed their holdings of local shares, which effectively offset foreign and individual buying, amid news that US President Donald Trump instructed his aides last week to proceed with tariffs on nearly US$200 billion more in Chinese products.

The local currency was trading at 1,122.50 won against the US dollar, down 5.50 won from the previous session’s close.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)