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Seoul stocks open lower on profit-taking

An electronic board showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)
South Korean stocks opened lower Monday as investors attempted to take profits from recent stock rallies.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 24 points, or 0.87 percent, to 2,726.26 points in the first 15 minutes of trading.

Most large caps traded lower, led by institutional sell-offs.

Top cap Samsung Electronics retreated 1.62 percent, and No. 2 chipmaker SK hynix lost 2.81 percent.

Leading chemical firm LG Chem decreased 3.24 percent, and pharmaceutical giant Samsung Biologics shed 2.47 percent.

Among gainers, LG Energy Solution jumped 4.37 percent and Kakao Bank added 2.14 percent.

The local currency was trading at 1,199.65 won against the US dollar, down 2.65 won from the previous session's close. (Yonhap)
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