ID :
197964
Fri, 07/29/2011 - 06:10
Auther :
Shortlink :
https://oananews.org//node/197964
The shortlink copeid
Seoul shares drop after strong start
SEOUL, July 29 (Yonhap) -- South Korean stocks opened strong on Friday, but soon shifted to negative territory on jitters over the continued U.S. debt crisis, analysts said.
After starting on a high note, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.44 points, or 0.25 percent, to 2,150.41 in the first 15 minutes of trading.
Financial shares led the decline, with KB Financial Group falling 1.12 percent and Shinhan Financial Group dropping 0.97 percent.
Samsung Electronics, the world's biggest chip maker, rose 0.6 percent after reporting higher-than expected second-quarter earnings.
U.S. stocks edged lower as investors were skeptical about a key vote by Congress that would lead to a deal to avoid a U.S. default. The Dow Jones industrial average ended down 0.51 percent.
The local currency was trading at 1,052.8 won to the U.S. dollar as of 9:15 a.m., down 1.3 won from Thursday's close.
After starting on a high note, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.44 points, or 0.25 percent, to 2,150.41 in the first 15 minutes of trading.
Financial shares led the decline, with KB Financial Group falling 1.12 percent and Shinhan Financial Group dropping 0.97 percent.
Samsung Electronics, the world's biggest chip maker, rose 0.6 percent after reporting higher-than expected second-quarter earnings.
U.S. stocks edged lower as investors were skeptical about a key vote by Congress that would lead to a deal to avoid a U.S. default. The Dow Jones industrial average ended down 0.51 percent.
The local currency was trading at 1,052.8 won to the U.S. dollar as of 9:15 a.m., down 1.3 won from Thursday's close.
