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S. Korean shares open lower on Wall Street decline

All News 09:29 April 29, 2016

SEOUL, April 29 (Yonhap) -- South Korean stocks got off to a weak start Friday as investor sentiment was hurt by overnight setbacks on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.42 points, or 0.37 percent, to 1,993.51 in the first 15 minutes of trading.

On Thursday, the Dow Jones industrial average fell 1.17 percent as the market was rattled by Japan's unexpected decision to stand pat on its stimulus stance without unveiling additional measures.

Tech issues were among the drags with Apple shedding 3 percent after billionaire investor Carl Icahn said he has sold all his holdings.

Large caps started lower here, with auto, tech and telecom issues leading the way. Samsung Electronics inched down 0.16 percent, while auto giant Hyundai Motor lost 1.35 percent.

The local currency was trading at 1,136 won against the U.S. dollar, up 2.2 won from Thursday's close.


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