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Seoul stocks open nearly flat

All News 09:29 June 01, 2018

SEOUL, June 1 (Yonhap) -- South Korean stocks opened nearly flat Friday, as investors took to the sidelines amid rising trade tensions.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.66 point, or 0.03 percent, to 2,423.67 in the first 15 minutes of trading.

The Dow Jones industrial average and tech-heavy Nasdaq composite shed 1.02 percent and 0.27 percent, respectively, on Thursday, after the Trump administration announced tariffs on imports from the European Union, Canada and Mexico.

Most blue chips traded mixed in Seoul, with large cap tech shares in negative terrain.

Market kingpin Samsung Electronics fell 0.59 percent, and SK hynix, a major chipmaker, plunged 3.1 percent.

No. 1 carmaker Hyundai Motor was down 0.36 percent, and leading chemical firm LG Chem also surrendered 0.59 percent.

Pharmaceutical giant Celltrion advanced 2.07 percent, and Naver, the country's top portal operator, was up 2.09 percent.

The local currency was trading at 1,077.50 won against the U.S. dollar, up 0.2 won from the previous session's close.


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