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S. Korean shares open lower on Samsung woes

All News 09:19 October 11, 2016

SEOUL, Oct. 11 (Yonhap) -- South Korean shares opened slightly lower Tuesday as market kingpin Samsung Electronics took a beating over its decision to halt global sales of its Galaxy Note 7 smartphone that had already been under a global recall for battery-related problems.

The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.81 point, or 0.04 percent, to 2,056.01 in the first 15 minutes of trading.

Most large caps were in positive terrain with leading automaker Hyundai Motor advancing 1.50 percent and top portal operator Naver 1.61 percent.

Samsung Electronics, on the other hand, plunged 3.99 percent, retreating for a second consecutive day after reaching a record high of 1,706,000 won on Friday.

The local currency was trading at 1,112.45 won against the U.S. dollar, down 4.05 won from the previous session's close.


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