ID :
197425
Wed, 07/27/2011 - 04:10
Auther :
Shortlink :
https://oananews.org//node/197425
The shortlink copeid
Seoul shares open lower on U.S. losses
SEOUL (Yonhap) - South Korean stocks got off to a weak start on Wednesday, tracking overnight falls on Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) slipped 16.55 points, or 0.76 percent, to 2,152.15 in the first 15 minutes of trading.
Most large-cap shares traded in the negative territory, with market bellwether Samsung Electronics falling 1.29 percent. LG Electronics dropped 0.37 percent ahead of its second-quarter earnings announcement, and POSCO, South Korea's leading steelmaker, plunged 2.6 percent.
U.S. stocks slumped on Tuesday on a prolonged political battle over the debt ceiling. The stalemate in U.S. debt talks in Washington dragged down the Dow Jones industrial average 0.73 percent.
The local currency was trading at 1,051.45 won to the greenback as of 9:15 a.m., down 0.35 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) slipped 16.55 points, or 0.76 percent, to 2,152.15 in the first 15 minutes of trading.
Most large-cap shares traded in the negative territory, with market bellwether Samsung Electronics falling 1.29 percent. LG Electronics dropped 0.37 percent ahead of its second-quarter earnings announcement, and POSCO, South Korea's leading steelmaker, plunged 2.6 percent.
U.S. stocks slumped on Tuesday on a prolonged political battle over the debt ceiling. The stalemate in U.S. debt talks in Washington dragged down the Dow Jones industrial average 0.73 percent.
The local currency was trading at 1,051.45 won to the greenback as of 9:15 a.m., down 0.35 won from Tuesday's close.
