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Seoul stocks open lower on Fed uncertainties, virus woes

An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)
South Korean stocks opened lower Tuesday, as investors await the US Federal Reserve's stance about rate hikes.

The benchmark Korea Composite Stock Price Index (Kospi) fell 19.65 points, or 0.7 percent, to 2,772.35 points in the first 15 minutes of trading.

The Federal Reserve is scheduled to end its two-day monetary policy meeting Wednesday (local time), which is expected to give clues on its monetary policy direction.

South Korea's record high virus tally also added to the concerns about stronger quarantine measures.

Market bellwether Samsung Electronics lost 1.07 percent, and No. 2 chipmaker SK hynix decreased 1.26 percent.

Internet portal operator Naver and its rival Kakao traded flat, and pharmaceutical giant Samsung Biologics declined 0.49 percent.

The local currency was trading at 1,196.2 won to the US dollar, down 0.1 won from the previous session's close. (Yonhap)

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