ID :
189662
Mon, 06/20/2011 - 04:20
Auther :
Shortlink :
https://oananews.org//node/189662
The shortlink copeid
Seoul shares turn lower after strong open
SEOUL (Yonhap) - South Korean stocks began higher on Monday but soon shifted to negative territory on worries over the tech sector's grim quarterly profit outlook, analysts said.
After starting on a higher note, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.53 points, or 0.27 percent, to 2,026.4 in the first 15 minutes of trading.
Techs led the decline with market bellwether Samsung Electronics slumping almost 2 percent.
In contrast, automakers outperformed the market with Hyundai Motor gaining more than 1 percent.
The local currency was trading at 1,082.55 won to the U.S. dollar as of 9:15 a.m., up 3.35 won from Friday's close.
After starting on a higher note, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.53 points, or 0.27 percent, to 2,026.4 in the first 15 minutes of trading.
Techs led the decline with market bellwether Samsung Electronics slumping almost 2 percent.
In contrast, automakers outperformed the market with Hyundai Motor gaining more than 1 percent.
The local currency was trading at 1,082.55 won to the U.S. dollar as of 9:15 a.m., up 3.35 won from Friday's close.
