Seoul shares open lower on losses in auto, retailers

South Korean stocks got off to a weak start Wednesday on losses in auto and retailers, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 11.45 points, or 0.58 percent, to 1,973.32 in the first 15 minutes of trading.


Auto industry leader Hyundai Motor shed 0.29 percent and its smaller affiliate Kia Motors fell 1.79 percent. Car-parts manufacturer Hyundai Mobis shed 1.75 percent.

Retailers also slipped, with No. 1 Lotte Shopping moving down 1.81 percent and Shinsegae dipping 1.72 percent.

The local currency was trading at 1,124.70 won against the U.S. dollar, down 2.10 won from Tuesday’s close. (Yonhap)


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