Seoul shares open slightly lower on Trump tariff on copper, medicine
The benchmark Korea Composite Stock Price Index shed 0.19 point, or 0.01 percent, to 3,114.76 in the first 15 minutes of trading.
Trump announced plans to impose a 50 percent duty on copper imports and up to 200 percent tariffs on pharmaceuticals on Tuesday (US time), a day after he released letters sent to South Korea, Japan and other countries, detailing plans to impose reciprocal tariffs starting on Aug. 1.
US stocks finished mixed. The Dow Jones Industrial Average fell 0.37 percent and the S&P 500 lost 0.07 percent, while the Nasdaq composite gained 0.03 percent.
In Seoul, large caps opened in negative territory.
Market bellwether Samsung Electronics dropped 1.3 percent, and chip giant SK hynix declined 1.42 percent.
Drugmakers went south as Celltrion retreated 0.57 percent, and Samsung Biologics fell 0.39 percent.
Top carmaker Hyundai Motor decreased 1.9 percent, and leading internet firm Naver lost 1.94 percent.
However, leading retailer Lotte Shopping rose 2.89 percent, and instant noodle maker Samyang Food added 0.84 percent.
The local currency was trading at 1,373.95 won against the US dollar at 9:15 a.m., down 5.95 won from the previous session. (Yonhap)
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