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Seoul shares open lower amid foreign sell-offs

An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)

South Korean stocks opened lower Thursday as foreign sell-offs continued to weigh on the key stock index after the stock plunge the previous day.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.86 points, or 0.79 percent, to trade at 2,359.13 in the first 15 minutes of trading.

Investors remained cautious after a near 2 percent fall on Wednesday, spooked by soaring inflation growth at home and weak economic sentiment data in the United States

Investors' eyes are on China's purchasing managers' index (PMI), set to be announced later in the day.

In Seoul, market behemoth Samsung Electronics dropped 1.38 percent, with No. 2 chipmaker SK hynix losing 1.91 percent.

Battery giant LG Energy Solution declined 1.92 percent, and internet portal operator Naver moved down 3.04 percent. Top carmaker Hyundai Motor retreated 1.71 percent.

The local currency was trading at 1,302.7 won against the US dollar, down 3.7 won from the previous session's close. (Yonhap)

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