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Seoul shares open nearly flat on profit-taking

All Headlines 09:24 April 17, 2019

SEOUL, April 17 (Yonhap) -- South Korean stocks opened nearly flat Wednesday as investors sought profits after the market closed higher for the 13th consecutive session the previous day.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.99 point, or 0.04 percent, to 2,249.62 in the first 15 minutes of trading.

Market kingpin Samsung Electronics rose 0.63 percent, and No. 2 chipmaker SK hynix gained 1.99 percent. LG Display advanced 0.46 percent.

Financials got off to a weak start.

Shinhan Financial slipped 1.09 percent, and KB Financial lost 0.65 percent. Samsung Life Insurance decreased 0.7 percent.

Steelmakers also lost ground, with No. 1 player POSCO falling 0.74 percent and Korea Zinc losing 1.38 percent. Hyundai Steel moved down 0.93 percent.

The local currency was changing hands at 1,137.20 won against the U.S. dollar as of 9:15 a.m., down 1.5 won from the previous session's close.


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