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Seoul stocks open steeply lower amid COVID-19 resurgence
By YonhapPublished : July 19, 2021 - 09:43
South Korean stocks opened steeply lower Monday amid concerns of the resurgence of new coronavirus cases.
The benchmark Korea Composite Stock Price Index (KOSPI) slumped 32.26 points, or 0.98 percent, to 3,244.65 points in the first 15 minutes of trading.
Stocks retreated as the fourth wave of the new COVID-19 at home weakened investor sentiment for risky assets.
The infection of 247 South Korean sailors in waters off Africa -- the worst mass infection case in the virus' recent resurgence -- sent shockwaves across South Korea, raising concerns about the highly contagious variant.
In Seoul, market kingpin Samsung Electronics shed 1.13 percent, and No. 2 chipmaker SK hynix retreated 2.06 percent.
Internet portal giant Naver moved down 0.78 percent, and leading carmaker Hyundai Motor declined 1.09 percent.
Giant chemical maker LG Chem lost 0.6 percent, and top pharmaceutical firm Samsung Biologics edged down 0.22 percent.
The local currency was trading at 1,144.1 won to the US dollar, down 4.6 won from the previous session's close. (Yonhap)
The benchmark Korea Composite Stock Price Index (KOSPI) slumped 32.26 points, or 0.98 percent, to 3,244.65 points in the first 15 minutes of trading.
Stocks retreated as the fourth wave of the new COVID-19 at home weakened investor sentiment for risky assets.
The infection of 247 South Korean sailors in waters off Africa -- the worst mass infection case in the virus' recent resurgence -- sent shockwaves across South Korea, raising concerns about the highly contagious variant.
In Seoul, market kingpin Samsung Electronics shed 1.13 percent, and No. 2 chipmaker SK hynix retreated 2.06 percent.
Internet portal giant Naver moved down 0.78 percent, and leading carmaker Hyundai Motor declined 1.09 percent.
Giant chemical maker LG Chem lost 0.6 percent, and top pharmaceutical firm Samsung Biologics edged down 0.22 percent.
The local currency was trading at 1,144.1 won to the US dollar, down 4.6 won from the previous session's close. (Yonhap)
