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S. Korean shares open lower on U.S. stock falls

All News 09:19 April 08, 2016

SEOUL, April 8 (Yonhap) -- South Korean stocks started lower on Friday, taking a cue from overnight losses in Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 11.16 points, or 0.57 percent, to 1,962.73 in the first 15 minutes of trading.

Market heavyweights traded mixed, with top player Samsung Electronics falling 0.87 percent.

Hyundai Motor, the nation's leading automaker, dropped 0.68 percent.

State-run Korea Electric Power Corp. suffered 0.85 percent fall, and top steelmaker POSCO was down 1.72 percent.

U.S. stocks dropped on Thursday (local time) as oil prices fell and concerns over the global economic recovery resurfaced.

The Dow Jones industrial average closed down 0.98 percent to 17,541.96 points, and the Nasdaq Composite index shed 1.47 percent to 4,848.37 points.

The local currency was trading at 1,161.20 against the U.S. dollar, down 9.8 won from the previous session's close.


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