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Seoul shares open lower ahead of BOK's rate decision

Nov. 30, 2023 - 09:30 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks started lower Thursday, as investors are waiting for the central bank's key rate decision later in the day.

The benchmark Korea Composite Stock Price Index lost 7.98 points, or 0.32 percent, to 2,511.83 in the first 15 minutes of trading.

In a rate-setting meeting, the Bank of Korea is widely expected to keep the rate unchanged at 3.5 percent.

Major shares went south, with market bellwether Samsung Electronics falling 0.28 percent and LG Energy Solution, the second-biggest share in terms of market cap, decreasing 0.78 percent.

Top automaker Hyundai Motor dropped 1.08 percent, and leading chemicals maker LG Chen declined 0.2 percent.

No. 1 oil refinery SK Innovation retreated 0.7 percent, and flagship air carrier Korean Air Lines went down 1.13 percent.

The local currency was trading at 1,292.15 won against the US dollar, down 2.55 won from the previous session's close. (Yonhap)