Seoul shares open lower ahead of U.S. jobs data

South Korean shares opened slightly lower Friday ahead of the U.S. jobs report that may serve as another indicator of a possibly looming recession. The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.63 points, or 0.30 percent, to 2,567.87 in the first 15 minutes of trading. The index has been on a steady decline since Tuesday, when the United States reported a worse-than-expected manufacturing purchasing managers index. The U.S. is set to release its latest jobs data Friday (U.S. time). In Seoul, large caps traded mixed. Tech giant Samsung Electronics gained 0.29 percent, while SK hynix, the world's No. 2 chipmaker, retreated 1.13 percent. Leading battery makers LG Energy Solution and Samsung SDS lost 1.59 percent and 0.69 percent, respectively, while top mobile service provider SK Telecom surged 1.92 percent. Autos were in negative territory, with industry leader Hyundai Motor slipping 0.66 percent and its smaller affiliate Kia Motors falling 1.19 percent. The local currency was trading at 1,332.90 won against the U.S. dollar, up 3.0 won from the previous session. Source: Yonhap News Agency