0028 GMT - South Korea's benchmark Kospi falls 0.3% to 2508.40 in early trade, as shipbuilding and steel stocks retreat. Strong U.S. jobs growth for December, which put further Federal Reserve rate cuts in doubt, is weighing on sentiment. Foreign and institutional investors are net sellers. HD Hyundai Heavy Industries falls 4.6%, leading a broad decline in local shipbuilding stocks. Steelmaker Hyundai Steel loses 3.1%. Index heavyweight Samsung Electronics is down 1.1%. USD/KRW is 0.5% higher at 1,472.05, compared with the prior session's Seoul onshore trading close. South Korea's 10-year government bond yield is up 5.9 bps at 2.837%. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
January 12, 2025 19:28 ET (00:28 GMT)
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