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THE INVESTOR
September 28, 2021

Seoul stocks open nearly flat ahead of US inflation data release

  • PUBLISHED :June 10, 2021 - 09:33
  • UPDATED :June 10, 2021 - 09:33
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Stock market in South Korea (Yonhap)

South Korean stocks opened nearly flat Thursday as investors await the release of US consumer price data that may give clues about the Federal Reserve's future monetary policy.

The benchmark Korea Composite Stock Price Index (Kospi) edged down 0.5 points, or 0.02 percent, to reach 3,215.68 points in the first 15 minutes of trading.

The Kospi got off to muted start as investors take a wait-and-see mode before the US consumer price index (CPI) for May that will be published later in the day (Korean time).

The price gauge is expected to provide hints for the direction of the Fed's economic diagnosis in the FOMC meeting next week.

In Seoul, market bellwether Samsung Electronics added 0.25 percent, while No. 2 chipmaker SK hynix retreated 0.41 percent.

Internet portal operator Naver advanced 2.37 percent, and giant pharmaceutical firm Samsung Biologics increased 0.36 percent.

Top automaker Hyundai Motor lost 0.42 percent, and leading chemical firm LG Chem decreased 0.5 percent.

The local currency was trading at 1,115.85 won against the US dollar, down 0.45 won from the previous session's close. (Yonhap)

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