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Seoul shares start lower on growth woes

Stocks 09:30 March 27, 2019

SEOUL, March 27 (Yonhap) -- South Korean stocks opened lower on Wednesday as investors dumped tech shares amid gloomy earnings forecasts.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 13.09 points, or 0.61 percent, to 2,135.71 in the first 15 minutes of trading.

Market bellwether Samsung Electronics tumbled 2.10 percent after its announcement of a worse-than-expected first quarter earnings outlook.

Its rival, SK hynix, slumped 1.93 percent and Samsung SDS, an IT solution unit of Samsung Group, fell 0.86 percent.

The local currency was changing hands at 1,135.25 won against the U.S. dollar as of 9:15 a.m., down 1.85 won from the previous session's close.


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