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Seoul stocks open nearly flat on virus woes

Stocks 09:31 April 12, 2021

SEOUL, April 12 (Yonhap) -- South Korean stocks were little changed Monday amid lingering concerns over virus outbreaks.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.24 point, or 0.01 percent, to 3,132.12 points in the first 15 minutes of trading.

Stocks came to a muted start after the KOSPI snapped its six-day gaining steak the previous session as valuation pressure increased ahead of the earnings report season.

Over the weekend, South Korea's daily new coronavirus cases stayed in the 600s for the third consecutive day Sunday, with authorities struggling to contain sporadic cluster infections nationwide.

In Seoul, market kingpin Samsung Electronics slipped 0.12 percent, and No. 2 chipmaker SK hynix shed 1.07 percent.

Internet portal giant Naver moved up 1.83 percent, and leading carmaker Hyundai Motor declined 0.88 percent.

Leading chemical maker LG Chem gained 2.59 percent, and top pharmaceutical firm Samsung Biologics traded flat.

The local currency was trading at 1,122.65 won to the U.S. dollar as of 9:15 a.m., down 1.45 won from the previous session's close.


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