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Seoul stocks open lower on tech losses

All News 09:24 January 15, 2020

SEOUL, Jan. 15 (Yonhap) -- South Korean stocks opened lower Wednesday, led by losses in technology stocks and other market heavyweights, on news that an interim Sino-American trade deal does not remove tariffs on Chinese goods.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 12.27 points, or 0.55 percent, to 2,226.61 in the first 15 minutes of trading.

Most large caps slid into negative territory, with market kingpin Samsung Electronics falling 1.33 percent.

No. 2 chipmaker SK hynix lost 1.89 percent. Top automaker Hyundai Motor fell 1.29 percent, and Samsung BioLogics, a biopharmaceutical affiliate of Samsung Group, was down 0.11 percent.

In contrast, top portal operator Naver gained 0.52 percent.

The local currency was trading at 1,160.7 won against the U.S. dollar, down 4.6 won from the previous session's close.


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