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Stocks open lower on profit-taking

All News 09:23 June 07, 2017

SEOUL, June 7 (Yonhap) -- South Korean stocks opened lower Wednesday as investors continued to take a breather amid the latest growth rally on the main bourse.

The benchmark Korea Composite Stock Price Index (KOSPI) dipped 8.24 points, or 0.35 percent, to 2,360.38 in the first 15 minutes of trading.

Carmakers traded bearish, with Hyundai Motor falling 1.55 percent and its auto parts affiliate Hyundai Mobis decreasing 3.45 percent. Kia Motors shed 0.39 percent.

Chemical shares were also among losers, with Amore Pacific decreasing 1.18 percent and LG Household & Health Care moving down 0.2 percent.

The local currency was trading at 1,120.50 won against the U.S. dollar, down 2.2 won from the previous session's close. South Korea's financial market was closed Tuesday for Memorial Day.


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