Seoul shares open lower on weak U.S. end-year sales
Published : 2013-12-03 09:32
Updated : 2013-12-03 09:32
South Korean stocks opened lower Tuesday as investors' sentiment was dented by weaker-than-expected Thanksgiving and Black Friday sales in the United States, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.36 points, or 0.46 percent, to 2,021.42 in the first 15 minutes of trading.
Tech shares traded lower, with top chipmaker SK Hynix falling 0.7 percent and handset maker LG Electronics decreasing 0.88 percent. Flat panel maker LG Display shed 1.43 percent.
Logistics companies also traded bearish, with Hyundai Glovis losing 0.87 percent and CJ Korea Express falling 0.56 percent. Top air carrier Korean Air edged down 0.99 percent.
The local currency was trading at 1,060.25 won to the U.S. dollar as of 9:15 a.m., down 3.05 won from Monday's close. (Yonhap News)