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Seoul shares open lower on tech, bio losses

All News 09:33 December 10, 2018

SEOUL, Dec. 10 (Yonhap) -- South Korean stocks opened lower Monday, as top-cap tech and bio shares lost ground on heavy institutional buying.

The benchmark Korea Composite Stock Price Index shed 22.47 points, or 1.08 percent, to 2,053.29 in the first 15 minutes of trading.

With no fresh market-moving factors out there, investor sentiment was hurt by renewed concerns over trade frictions between the United States and China, according to analysts.

Losses were wide and deep across the board, with blue-chip shares leading the downturn.

Market bellwether Samsung Electronics fell 1.34 percent, and major chipmaker SK hynix sank 2.4 percent.

Pharmaceutical giant Celltrion retreated 1.83 percent, and Samsung BioLogics lost 1.92 percent.

No. 1 carmaker Hyundai Motor decreased 1.8 percent, and top steelmaker POSCO tumbled 2.61 percent.

The South Korean currency was trading at 1,125.40 won against the U.S. dollar, down 5.6 won from the previous session's close.


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