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South Korean Shares Open Lower on Wall Street Losses, Investors Keep Close Eye on U.S. Fed Meeting

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South Korean shares opened lower on Wednesday, tracking overnight losses on Wall Street, driven by technology stocks.

The benchmark Korea Composite Stock Price Index, or KOSPI, declined 1.2%, or 104.47 points, to open at 8,622.13. The KOSDAQ marginally rose to open at 1,019.88 points.

The technology-led sell-off in the US dragged the S&P 500 down about 0.5% and the Nasdaq by 1.15%.

Investors were cautious ahead of the U.S. Federal Reserve's policy meeting on Wednesday, which would mark Kevin Warsh's first meeting as chairman of the Federal Reserve.

Adding to the lackluster sentiment, U.S. President Donald Trump, while attending the G7 summit in France, criticized Israel's conduct in its war with the militant group Hezbollah, citing casualties from Israeli strikes.

Trump also suggested that Syria should "take care of" Hezbollah. Trump and Vice President JD Vance also dismissed reports that the U.S. would make payments to Iran under a preliminary peace agreement.

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