ID :
198826
Wed, 08/03/2011 - 04:10
Auther :
Shortlink :
https://oananews.org//node/198826
The shortlink copeid
Seoul shares open lower on U.S. losses
SEOUL (Yonhap) - South Korean stocks got off to a weak start Wednesday, tracking overnight losses in Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.4 percent, or 50.99 points, to 2,070,28 in the first 15 minutes of trading.
Exporters lost ground, with world's top chip manufacturer Samsung Electronics falling 1.29 percent and leading automaker Hyundai Motor dropping 4.02 percent.
A series of reports on weak U.S. economy and poor earnings reports from major companies dragged down the Dow Jones industrial average 2.2 percent and the Nasdaq composite index 2.7 percent.
The local currency was trading at 1,058.6 won to the U.S. dollar as of 9:15 a.m., down 7.8 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.4 percent, or 50.99 points, to 2,070,28 in the first 15 minutes of trading.
Exporters lost ground, with world's top chip manufacturer Samsung Electronics falling 1.29 percent and leading automaker Hyundai Motor dropping 4.02 percent.
A series of reports on weak U.S. economy and poor earnings reports from major companies dragged down the Dow Jones industrial average 2.2 percent and the Nasdaq composite index 2.7 percent.
The local currency was trading at 1,058.6 won to the U.S. dollar as of 9:15 a.m., down 7.8 won from Tuesday's close.
