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Seoul shares open lower amid Chinese woes

South Korean stocks opened lower Friday as investors continued to take a wait-and-see approach on the Chinese economy, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) moved down 9.55 points, or 0.47 percent, to 2,037.14 in the first 15 minutes of trading.

Mobile carriers traded lower, with No. 1 player SK Telecom falling 1.48 percent and KT losing 0.98 percent. LG Uplus, the smallest player, shed 2.38 percent.

Carmakers also declined, with No. 1 Hyundai Motor falling 0.39 percent and its smaller affiliate Kia Motors moving down 0.63 percent. Top auto parts maker Hyundai Mobis decreased 0.35 percent.

The local currency was trading at 1,062.45 won against the U.S. dollar as of 9:15 a.m., down 1.45 won from Thursday's close. (Yonhap News)

 

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