ID :
208189
Tue, 09/20/2011 - 08:43
Auther :
Shortlink :
https://oananews.org//node/208189
The shortlink copeid
Seoul shares open lower on Italy rating cut
SEOUL, Sept. 20 (Yonhap) -- South Korean stocks got off to a weak start on Tuesday as Standard & Poor's downgrade of Italy's credit rating renewed investor jitters about the debt-mired eurozone, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 15.89 points, or 0.87 percent, to 1,805.05 in the first 15 minutes of trading.
Shares lost ground across the board with key blue chips Samsung Electronics and Hyundai Motor leading the market decline.
Standard & Poor's cut Italy's sovereign debt rating by one notch, citing the country's weak economic growth.
The local currency was trading at 1,144.8 won to the U.S. dollar as of 9:15 a.m., down 7.8 won from Monday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 15.89 points, or 0.87 percent, to 1,805.05 in the first 15 minutes of trading.
Shares lost ground across the board with key blue chips Samsung Electronics and Hyundai Motor leading the market decline.
Standard & Poor's cut Italy's sovereign debt rating by one notch, citing the country's weak economic growth.
The local currency was trading at 1,144.8 won to the U.S. dollar as of 9:15 a.m., down 7.8 won from Monday's close.
