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S. Korean stocks open lower on U.S. rate-hike concern

All Headlines 09:19 August 29, 2016

SEOUL, Aug. 29 (Yonhap) -- South Korean stocks opened slightly lower Monday amid indications that the U.S. may soon raise its key interest rate.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.85 points, or 0.39 percent, to 2,029.65 in the first 15 minutes of trading.

Last week, Federal Reserve leaders hinted at the possibility of an interest-rate hike as early as next month.

Market watchers will also closely monitor U.S. job data to be released on Thursday and the results of the G20 Leaders' Summit scheduled to open in the eastern Chinese city of Hangzhou on the weekend.

Large caps traded mixed across the board.

Top cap Samsung Electronics lost 0.06 percent, with global chipmaker SK hynix also shedding 1.66 percent.

Leading automaker Hyundai Motor declined 1.11 percent.

The South Korean won was trading at 1,127.85 won against the U.S. greenback as of 9:15 a.m., down 14.15 won from the previous session's close.

lcd@yna.co.kr
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