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Seoul stocks open tad lower despite U.S. gains

All News 09:25 August 07, 2018

SEOUL, Aug. 7 (Yonhap) -- South Korean stocks opened slightly lower Tuesday despite overnight gains on Wall Street as institutions offloaded large-cap shares.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 1.68 points, or 0.07 percent, to 2,284.82 in the first 15 minutes of trading.

On Monday (local time), U.S. stocks ended higher on sound second-quarter corporate earnings reports. The S&P added 0.35 percent, and the Nasdaq Composite Index was up 0.61 percent. The Dow Jones Industrial Average was up 0.16 percent.

Most large caps on the Seoul bourse opened mixed, with tech shares leading the gains. Top cap Samsung Electronics added 0.55 percent, and SK hynix gained 1.01 percent.

The local currency was trading at 1,125 won against the U.S. dollar, down 1 won from the previous session's close.


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