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Seoul stocks open slightly higher on bargain hunting

All News 09:24 January 15, 2019

SEOUL, Jan. 15 (Yonhap) -- South Korean stocks opened slightly higher Tuesday after losses in the previous session amid concerns over the prolonged shutdown of the U.S. government and slowing global economy.

The benchmark Korea Composite Stock Price Index (KOSPI) added 3.81 points, or 0.18 percent, to reach 2,068.33 in the first 15 minutes of trading.

Overnight, the U.S. stock market finished lower. The Dow Jones industrial average fell 0.36 percent and the Nasdaq composite tumbled 0.94 percent.

In Seoul, steelmakers and financials gathered ground, while tech shares fell to limit the upturn.

Top steelmaker POSCO added 0.6 percent, and Hyundai Steel surged 0.91 percent. KB Financial increased 1.01 percent, and Shinhan Financial added 1.17 percent.

But market bellwether Samsung Electronics lost 0.5 percent, and leading chemical firm LG Chem shed 0.43 percent.

The local currency was trading at 1,121.70 won against the U.S. dollar, up 1.3 won from the previous session's close.


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