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Seoul shares open lower on 1st trading day of 2020

All News 10:25 January 02, 2020

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks opened lower Thursday, the first trading session of the new year, driven by losses in market heavyweights.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.4 points, or 0.34 percent, to 2,190.27 in the first 15 minutes of trading.

Top cap Samsung Electronics slipped 0.54 percent, and its smaller rival LG Electronics dropped 0.97. But global chipmaker SK Hynix advanced 1.06 percent.

Auto shares also had a weak start as No. 2 automaker Kia Motors declined 1.69 percent, while auto parts maker Hyundai Mobis shed 0.59 percent. No. 1 automaker Hyundai Motor stayed flat.

Leading mobile carrier SK Telecom was down 0.84 percent, and top pharmaceutical firm Celltrion plunged 2.21 percent.

The local currency was trading at 1,154.70 won against the U.S. dollar, up 1.7 won from the previous session's close.

The South Korean stock and currency markets opened an hour later than usual due to the opening ceremony for the new year.
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