Seoul shares open flat amid U.S. debt issue
Published : 2013-09-27 09:28
Updated : 2013-09-27 09:28
South Korean stocks opened almost flat Friday as the prolonged deadlock in the U.S. debt-ceiling debate weighed down on investor sentiment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) edged up 2.68 points, or 0.13 percent, to 2,010.00 in the first 15 minutes of trading.
Logistics traded higher, with Hyundai Glovis adding 1.52 percent and Hyundai Merchant Marine moving up 0.84 percent. Top air carrier Korean Air gained 1.16 percent.
Blue-chip shares lost ground, with market behemoth Samsung Electronics falling 0.29 percent and No. 1 carmaker Hyundai Motor losing 0.78 percent. Kia Motors shed 0.6 percent.
The local currency was trading at 1,077.65 won against the U.S. dollar as of 9:15 a.m., down 2.55 won from Thursday's close. (Yonhap News)