Seoul shares open lower on U.S. policy woes
Published : 2013-09-25 09:33
Updated : 2013-09-25 09:33
South Korean stocks opened lower Wednesday as wariness over U.S. budget plans and debt-ceiling issues continued to weigh on investor sentiment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.76 points, or 0.24 percent, to 2,002.34 in the first 15 minutes of trading.
Tech shares traded lower, with top player Samsung Electronics falling 0.29 percent and leading chipmaker SK hynix losing 1.64 percent. LG Electronics, a local handset maker, shed 0.41 percent.
Carmkers also lost ground, with No. 1 Hyundai Motor falling 0.59 percent and its auto-parts affiliate Hyundai Mobis losing 0.17 percent. Kia Motors moved down 0.73 percent.
The local currency was trading at 1,075.15 won against the U.S. dollar as of 9:15 a.m., down 2.95 won from Tuesday's close. (Yonhap News)