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Seoul stocks start lower on Wall Street loss

All News 09:22 October 05, 2016

SEOUL, Oct. 5 (Yonhap) -- South Korean shares opened lower Wednesday, taking a cue from losses on Wall Street on rising uncertainty over the U.S. monetary policy.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.31 points, or 0.75 percent, to 2,039.48 in the first 15 minutes of trading.

Stocks were down across the board as investors fretted about the prospect of a Federal Reserve interest rate hike in coming months.

Market bellwether Samsung Electronics fell 0.87 percent, and leading automaker Hyundai Motor lost 1.08 percent.

Top cosmetic maker AmorePacific retreated 1.01 percent, and steelmaker POSCO declined 1.51 percent.

The local currency was trading at 1,114.7 won against the U.S. dollar, down 6.9 won from Tuesday's close.


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