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Seoul stocks open lower on U.S. losses

All News 09:22 April 01, 2020

SEOUL, April 1 (Yonhap) -- South Korean stocks opened slightly lower Wednesday, tracking overnight losses on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 10.07 points, or 0.57 percent, to 1,744.57 in the first 15 minutes of trading.

The weak start comes after the U.S. stock market closed in negative terrain with the Dow Jones Industrial Average losing 1.84 percent to 21,917.16.

U.S. President Donald Trump noted his country may have yet to see the worst in the coronavirus pandemic, saying the next two weeks may be "very, very painful."

In Seoul, large caps traded mixed.

Market bellwether Samsung Electronics slipped 0.84 percent, with No. 2 chipmaker SK hynix tumbling 1.44 percent.

Top automaker Hyundai Motor added 0.56 percent, while leading mobile service provider SK Telecom gained 0.85 percent.

The local currency was trading at 1,221.75 won against the U.S. dollar, down 4.35 won from the previous session's close.


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