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Stocks open lower on profit-taking

All News 09:19 September 06, 2016

SEOUL, Sept. 6 (Yonhap) -- South Korean stocks opened slightly lower on Tuesday as investors attempted to lock in recent gains.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.27 point, or 0.01 percent, to 2,058.89 in the first 15 minutes of trading.

The KOSPI hit a 14-month high on Monday on eased concerns over an imminent rate hike in the United States. Financial market in the U.S. was shut Monday for holidays.

Most large caps traded mixed with market kingpin Samsung Electronics rising 0.19 percent.

Top automaker Hyundai Motor shed 0.36 percent, and top steelmaker POSCO fell 0.21 percent.

Naver, the operator of the country's top internet portal, advanced 1.41 percent.

The local currency was trading at 1,103.90 won against the U.S. dollar, up 1.25 won from the previous session's close.


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