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Seoul stocks open lower on Wall Street loss

All News 09:20 June 13, 2016

SEOUL, June 13 (Yonhap) -- South Korean shares opened lower Monday, taking a cue from overnight fall in Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 21.37 points, or 1.06 percent, to 1,196.26 in the first 15 minutes of trading.

Most large caps traded sluggish as falling oil prices and rising speculation of Britain's leaving the European Union drove down U.S. shares in the previous session.

Market kingpin Samsung Electronics skidded 1.99 percent following a sharp rally last week, and chip giant SK hynix fell 2.59 percent.

Lotte Group shares were down as prosecutors widened their probe into South Korea's fifth-largest conglomerate on lobbying and slush fund allegations.

Lotte Shopping, the group's key retail unit, tumbled 6.73 percent, and Lotte Chemical, a chemical unit, dropped 2.61 percent after withdrawing from a bidding for U.S.-based Axiall Corp.

The local currency was trading at 1,172.2 won against the U.S. dollar, down 6.5 won from the previous session's close.


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