ID :
183706
Mon, 05/23/2011 - 04:51
Auther :
Shortlink :
https://oananews.org//node/183706
The shortlink copeid
Seoul shares open lower on U.S. losses
SEOUL (Yonhap) - South Korean stocks began sharply lower on Monday as investor sentiment was dampened by Friday's falls in U.S. stock markets, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 17.6 points, or 0.83 percent, to 2,093.9 in the first 15 minutes of trading.
Automakers led the decline with market leader Hyundai Motor slumping more than 4 percent and its smaller affiliate Kia Motors falling nearly 4 percent.
Chemicals also traded in negative territory with OCI, the country's top polysilicon maker, losing more than 3 percent.
The local currency was trading at 1,087.35 won to the U.S. dollar as of 9:15 a.m., down 4.55 won from Friday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 17.6 points, or 0.83 percent, to 2,093.9 in the first 15 minutes of trading.
Automakers led the decline with market leader Hyundai Motor slumping more than 4 percent and its smaller affiliate Kia Motors falling nearly 4 percent.
Chemicals also traded in negative territory with OCI, the country's top polysilicon maker, losing more than 3 percent.
The local currency was trading at 1,087.35 won to the U.S. dollar as of 9:15 a.m., down 4.55 won from Friday's close.
