BUSINESS

Stocks open flat on lack of market momentum

By Yonhap
  • Published : Aug 28, 2017 - 09:45
  • Updated : Aug 28, 2017 - 09:45
South Korean stocks opened almost flat on Monday, as investors attempted to cash in recent gains amid lack of market momentum.

The benchmark Korea Composite Stock Price Index rose 0.70 point, or 0.03 percent, to 2,379.21 in the first 15 minutes of trading.

Market kingpin Samsung Electronics was 0.21 percent up, while SK hynix, a major chipmaker, sank 1.61 percent.

(Yonhap)

Hyundai Motor, the No. 1 automaker, moved down 0.35 percent, while AmorePacific, the country's top cosmetics maker, shed 0.34 percent.

Naver, the operator of the country's top Internet portal, advanced 1.54 percent.

On Friday, US stocks rose slightly as Federal Reserve Chair Janet Yellen skirted making any comments on monetary policy at a policy gathering.

The local currency was trading at 1,121.40 won against the US dollar, up 6.8 won from the previous session's close. (Yonhap)