ID :
205398
Tue, 09/06/2011 - 04:20
Auther :
Shortlink :
https://oananews.org//node/205398
The shortlink copeid
Seoul shares open lower on Europe's debt fears
SEOUL, Sept. 6 (Yonhap) -- South Korean stocks got off to a weak start on Tuesday as the deepening eurozone crisis and subsequent plunges in European stocks dampened investor sentiment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 1.6 percent, or 28.6 points, to 1,757.23 in the first 15 minutes of trading.
European stocks closed sharply lower on Monday as investors questioned reform efforts in debt-plagued European governments. Key indexes in Germany, France and Italy tumbled more than 4 percent, while U.S. stock markets were closed for the Labor Day holiday.
Large-cap exporters and financial companies led the fall. Market bellwether Samsung Electronics declined more than 1 percent and Woori Finance Holdings lost about 3 percent.
The local currency was trading at 1,071.85 won to the greenback as of 9:15 a.m., down 3.05 won from Monday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 1.6 percent, or 28.6 points, to 1,757.23 in the first 15 minutes of trading.
European stocks closed sharply lower on Monday as investors questioned reform efforts in debt-plagued European governments. Key indexes in Germany, France and Italy tumbled more than 4 percent, while U.S. stock markets were closed for the Labor Day holiday.
Large-cap exporters and financial companies led the fall. Market bellwether Samsung Electronics declined more than 1 percent and Woori Finance Holdings lost about 3 percent.
The local currency was trading at 1,071.85 won to the greenback as of 9:15 a.m., down 3.05 won from Monday's close.
