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Seoul shares open 0.7 pct lower on foreign selling

All News 09:33 January 29, 2016

SEOUL, Jan. 29 (Yonhap) -- South Korean shares started 0.68 percent lower on Friday as foreign investors dumped tech shares amid downbeat earnings prospects.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 13 points to 1,893.94 in the first 15 minutes of trading.

Most blue chips were in negative terrain, with tech shares leading the fall.

Market bellwether Samsung Electronics tumbled 1.48 percent following disappointing fourth-quarter earnings and grim outlooks for its performance in the first quarter, and top chipmaker SK Hynix skidded 1.81 percent.

Foreigners went on a selling binge, effectively offsetting individual buying.

The local currency was trading at 1,206.65 won against the U.S. dollar as of 9:15 a.m., up 1.85 won from Thursday's close.


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