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S. Korean shares open lower on Wall Street losses

All News 09:37 March 06, 2020

SEOUL, March 6 (Yonhap) -- South Korean stocks opened lower Friday, tracking overnight losses on Wall Street.

The benchmark Korea Composite Stock Price Index lost 26.12 points, or 1.25 percent, to 2,059.14 in the first 15 minutes of trading.

The decline followed losses in the U.S. market. The Dow Jones industrial average lost 3.58 percent, with the tech-heavy Nasdaq composite index declining 3.10 percent.

Most large-cap stocks fell across the board.

Market bellwether Samsung Electronics Co. fell 1.38 percent; SK hynix, a major chipmaker, was down 1.26 percent; and top carmaker Hyundai Motor Co. shed 1.75 percent.

Among gainers, South Korean biopharmaceutical firm Celltrion rose 0.27 percent.

The local currency was trading at 1,189.65 won against the U.S. dollar, down 8.45 won from the previous session's close.

Finance Minister Hong Nam-ki made a verbal intervention, saying South Korea will take preemptive steps in case of excessive volatility in the foreign exchange market.


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