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Seoul shares start lower on profit-taking

By Yonhap

Published : March 11, 2024 - 09:33

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

South Korean stocks opened lower Monday as investors hunted for profits following a recent rally.

The benchmark Korea Composite Stock Price Index retreated 13.94 points, or 0.52 percent, to 2,666.41 in the first 15 minutes of trading.

The main index gained for two straight sessions through Friday on the US central bank's dovish stance.

Market heavyweights led the negative opening.

Top-cap Samsung Electronics fell 0.55 percent, and No. 2 SK hynix sank 3.08 percent.

Leading battery maker LG Energy Solution dropped 0.12 percent, and top automaker Hyundai Motor declined 1.19 percent.

The local currency was trading at 1,318.25 won against the US dollar, up 1.55 won from the previous session's close. (Yonhap)