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Seoul stocks open lower on coronavirus resurgence fears

Stocks 09:30 June 15, 2020

SEOUL, June 15 (Yonhap) -- South Korean stocks opened lower Monday amid global concerns of a coronavirus resurgence.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.74 points, or 0.64 percent, to 2,118.56 in the first 15 minutes of trading.

The drop was largely attributed to investor concerns of a second wave of the COVID-19 pandemic feared amid the rollback of economic lockdowns in major economies, analysts said.

Most large caps traded lower.

Market bellwether Samsung Electronics lost 1.72 percent, with No. 2 chipmaker SK hynix shedding 1.17 percent.

Top pharmaceutical firm Samsung BioLogics spiked 5.09 percent, while leading automaker Hyundai Motor dropped 0.97 percent.

The local currency was trading at 1,208.75 won against the U.S. dollar, down 4.95 won from the previous session's close.


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