Seoul shares open lower on improved U.S. data
Published : 2013-12-13 09:29
Updated : 2013-12-13 09:29
South Korean stocks opened lower Friday as improved economic data from the United States is feared to induce an early stimulus cut by the Federal Reserve, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 10.11 points, or 0.51 percent, to 1,957.82 in the first 15 minutes of trading.
Carmakers traded weak, with No. 1 Hyundai Motor remaining unchanged from the previous trading session, and its auto parts affiliate Hyundai Mobis losing 0.86 percent. Kia Motors shed 0.36 percent.
Mobile carriers also traded bearish, with leading SK Telecom falling 0.88 percent to 224,500 won, and its smaller rival KT moving down 0.49 percent. LG Uplus, the smallest player, remained unchanged.
The local currency was trading at 1,053.25 won against the U.S. dollar as of 9:15 a.m., down 2.25 won from Thursday's close. (Yonhap News)