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S. Korean shares open lower on tech loss

All News 09:19 March 08, 2016

SEOUL, March 8 (Yonhap) -- South Korean stocks started lower on Tuesday on losses in tech and utility stocks.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.82 point, or 0.04 percent, to 1,957.05 in the first 15 minutes of trading.

Tech shares traded lower, with Samsung Electronics falling 1.23 percent and global chipmaker SK hynix losing 2.51 percent.

State-run Korea Electric Power Corp. also dropped 1.76 percent.

In contrast, top refiner SK Innovation added 1.6 percent and LG Chem, the country's leading chemicals firm, gained 0.33 percent.

Hyundai Motor, the nation's leading automaker, remained flat.

The local currency was trading at 1,202.45 won against the U.S. dollar, down 1.05 won from the previous session's close.

On Monday, U.S. stocks ended higher, driven by gains in refiners and energy stocks, with the Dow Jones industrial average rising 0.4 percent to 17,073.95 points.


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