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Seoul stocks open lower on tech, auto losses

All News 09:23 February 17, 2020

SEOUL, Feb. 17 (Yonhap) -- Seoul stocks opened lower Monday, led by losses in tech and auto stocks, amid lingering concerns over the outbreak of the new coronavirus.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 13.33 points, or 0.59 percent, to reach 2,230.26 in the first 15 minutes of trading.

U.S. stocks were mixed Friday amid the spread of the COVID-19 virus around the globe. The Dow Jones industrial average fell 0.09 percent, but the Nasdaq composite gained 0.2 percent.

In Seoul, tech and auto shares suffered a weak start.

Market kingpin Samsung Electronics shed 0.65 percent, and No. 2 chipmaker SK hynix lost 0.48 percent. Major home appliance maker LG Electronics dropped 1.04 percent.

Top carmaker Hyundai Motor slid 0.37 percent, while its sister company Kia Motors dived 0.60 percent. Auto parts maker Hyundai Mobis declined 0.21 percent.

However, pharmaceutical giant Celltrion surged 2.49 percent, and leading mobile SK Telecom advanced 0.22 percent.

The local currency was trading at 1,182.90 won against the U.S. dollar, up 0.10 won from the previous session's close.
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