The Korea Herald


Seoul stocks open tad lower over new coronavirus concerns

By Yonhap

Published : Sept. 7, 2020 - 09:47

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(Yonhap) (Yonhap)

South Korean shares opened slightly lower Monday on weak investor sentiment as the country's new coronavirus cases continue to stay at a three-digit figure.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.36 points, or 0.06 percent, to 2,366.89 in the first 15 minutes of trading.

The index got off to a weak start, as investors take a wait-and-see mode over COVID-19 cases in the country.

Late last week, South Korean authorities extended the enhanced social distancing scheme by a week to Sept. 13, to curb the new infection rate. The country reported 119 more COVID-19 cases Monday, raising the total caseload to 21,296.

In Seoul, most large caps closed lower.

Market bellwether Samsung Electronics added 0.72 percent, but No. 2 chipmaker SK hynix shed 1.14 percent.

Internet portal giant Naver retreated 2.89 percent, with its rival Kakao dipping 1.99 percent.

Leading chemical maker LG Chem fell 2.42 percent, and rechargeable battery maker Samsung SDI dropped 2.05 percent.

Top pharmaceutical firm Samsung Biologics gained 1.68 percent, but Celltrion lost 0.51 percent.

Hyundai Motor, the country's largest automaker, fell 1.74 percent, and top steelmaker POSCO slid 0.27 percent.

The local currency closed at 1,188.75 won per dollar, up 0.85 won from the previous session's close. (Yonhap)