ID :
191226
Mon, 06/27/2011 - 04:19
Auther :
Shortlink :
https://oananews.org//node/191226
The shortlink copeid
Seoul shares open lower on European debt fears
South Korean stocks got off to a weak start on Monday as foreign investors shunned risks on fears about the European debt crisis, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) slumped 1.15 percent, or 24.13 points, to 2,066.68 in the first 15 minutes of trading.
A warning by Moody's Investors Service that it may downgrade credit ratings of Italian banks added to the concerns about Greece's public debts, dampening investor sentiment.
Shares lost ground across the board with the top 10 large-cap stocks all trading in negative territory.
Top logistics company Korea Express, however, surged about 5 percent after an affiliate of the country's largest industrial group, Samsung, said last week that it will bid for its stake.
The local currency was trading at 1,085.5 won to the greenback as of 9:15 a.m., down 6.7 won from Friday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) slumped 1.15 percent, or 24.13 points, to 2,066.68 in the first 15 minutes of trading.
A warning by Moody's Investors Service that it may downgrade credit ratings of Italian banks added to the concerns about Greece's public debts, dampening investor sentiment.
Shares lost ground across the board with the top 10 large-cap stocks all trading in negative territory.
Top logistics company Korea Express, however, surged about 5 percent after an affiliate of the country's largest industrial group, Samsung, said last week that it will bid for its stake.
The local currency was trading at 1,085.5 won to the greenback as of 9:15 a.m., down 6.7 won from Friday's close.
