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S. Korean stocks open lower on Wall Street losses

All News 09:24 September 01, 2016

SEOUL, Sept. 1 (Yonhap) -- South Korean stocks started lower on Thursday, tracking Wall Street's overnight losses.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.60 points, or 0.62 percent, to 2,022.05 in the first 20 minutes of trading.

In New York, the Dow Jones Industrial Average fell 53.42 points, or 0.29 percent, to 18,400.88, hit by the drop in oil prices and energy shares. Some strong economic data added to the possibility of the U.S. raising the key interest rate in the near future.

On the Seoul bourse, many large caps were off to a weak start.

Market bellwether Samsung Electronics lost 2.53 percent and global chipmaker SK hynix declined 1.65 percent.

Leading automaker Hyundai Motor gained 0.38 percent.

The South Korean won was trading at 1,114.90 won against the U.S. greenback, down 0.10 won from the previous session's close.


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