Published : 2013-09-23 09:33
Updated : 2013-09-23 09:33
South Korean stocks opened lower Monday as investors continued to seek after profit-taking following the market's recent steep gain, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.97 points, or 0.15 percent, to 2,002.61 in the first 15 minutes of trading.
Shares lost ground across the board, with tech giant Samsung Electronics falling 1.37 percent and No. 1 carmaker Hyundai Motor losing 2.34 percent. Top steelmaker POSCO shed 0.46 percent.
Logistics also traded lower, with Hyundai Merchant Marine moving down 3.97 percent and CJ Korea Express losing 0.5 percent. Top air carrier Korean Air Lines shed 0.56 percent.
The local currency was trading at 1,077.20 won against the U.S. dollar as of 9:15 a.m., up 6.90 won from Tuesday's close. The Seoul bourse has been closed for three days since Wednesday for the Chuseok holiday, the national harvest celebration. (Yonhap News)