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Seoul stocks open lower on virus concerns

All News 09:27 August 11, 2021

SEOUL, Aug. 11 (Yonhap) -- South Korean stocks opened lower Wednesday as a spike in new coronavirus cases weighed on investor sentiment.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.24 points, or 0.22 percent, to 3,235.95 points in the first 15 minutes of trading.

Stocks got off to a weak start as South Korea reported a record number of daily coronavirus cases above 2,200, stoking concerns of a growing nationwide outbreak despite toughened restrictions.

Market bellwether Samsung Electronics fell 0.87 percent, and No. 2 chipmaker SK hynix slumped 2.67 percent.

Pharmaceutical firm Samsung Biologics dipped 0.32 percent, while Celltrion rose 0.56 percent.

Internet portal giant Naver remained unchanged, while online messenger operator Kakao was also flat.

Top automaker Hyundai Motor added 0.23 percent, and leading chemical firm LG Chem gained 0.59 percent.

Video game developer Krafton tumbled 3.85 percent on its second day of trading.

The local currency was trading at 1,154.3 won to the U.S. dollar, down 4.5 won from the previous session's close.


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