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Stocks open slightly lower on profit-taking

South Korean stocks opened slightly lower on Friday, as investors attempted to cash in recent gains, but top market cap Samsung Electronics continued to build up gains.

The benchmark Korea Composite Stock Price Index fell 0.76 point, or 0.03 percent, to 2,208.70 in the first 15 minutes of trading.


Market kingpin Samsung Electronics was 2.65 percent up on its strong first-quarter earnings and shareholder-friendly policies.

SK hynix, a major chipmaker, also rose 1.12 percent.

In contrast, Hyundai Motor, the No. 1 automaker, moved down 1.36 percent, while AmorePacific, the country's top cosmetics maker, shed 0.37 percent.

The local currency was trading at 1,130.40 won against the US dollar, down 0.3 won from the previous session's close. (Yonhap)

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