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Seoul stocks open lower on Wall Street losses

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
South Korean stocks opened lower Wednesday, tracking losses on Wall Street amid concerns about the pace of US economic recovery.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.16 points, or 0.57 percent, to trade at 3,169.26 points in the first 16 minutes of trading.

Overnight, the Dow Jones Industrial Average fell 0.76 percent and the S&P declined 0.34 percent, while the tech-heavy Nasdaq composite inched up 0.07 percent after the release of a disappointing US jobs report on Friday (US time).

In Seoul, top cap Samsung Electronics lost 0.53 percent, and No. 2 chipmaker SK hynix remained unchanged.

Internet portal operator Naver declined 1.91 percent, and mobile messaging giant Kakao slumped 3.57 percent.

Pharmaceutical firm Samsung Biologics retreated 0.84 percent, and Celltrion decreased 1.43 percent.

Leading chemical firm LG Chem shed 0.92 percent, and top automaker Hyundai Motor fell 0.94 percent.

Top bank stock Kakao Bank gained 1.78 percent.

The local currency was trading at 1,163.6 won against the US dollar, down 5.8 won from the previous session's close. (Yonhap)
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