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Stocks open lower on profit-taking

All News 09:23 June 01, 2017

SEOUL, June 1 (Yonhap) -- South Korean stocks opened lower on Thursday, as investors attempted to cash in recent gains, but top market cap Samsung Electronics continued to build up gains.

The benchmark Korea Composite Stock Price Index (KOSPI) added 3.6 points, or 0.15 percent, to 2,343.78 in the first 15 minutes of trading.

Large-cap stocks were mixed across the board.

Market kingpin Samsung Electronics was up 0.22 percent, continuing a two-day winning streak. Hyundai Motor, the No. 1 automaker, moved up 1.23 percent.

In contrast, SK hynix, a major chipmaker, lost 0.53 percent and top steelmaker POSCO was down 0.71 percent.

The local currency was trading at 1,120.10 won against the U.S. dollar, down 0.6 won from the previous session's close.


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