Seoul stocks open tad lower despite Wall Street rally

By Yonhap
  • Published : Dec 27, 2018 - 09:54
  • Updated : Dec 27, 2018 - 09:54

South Korean stocks started slightly lower Thursday as institutions offloaded large-cap shares despite overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index lost 2.12 points, or 0.1 percent, to 2,025.89 in the first 15 minutes of trading.


US stocks soared Wednesday to snap a four-day losing streak, with the Dow Jones industrial average advancing 4.98 percent and the Nasdaq Composite jumping 5.84 percent.

In Seoul, blue chips were mixed across the board.

Market kingpin Samsung Electronics gained 0.26 percent, and SK hynix, a major chipmaker, was up 2.16 percent.

Pharmaceutical giant Celltrion increased 3.79 percent, and Samsung Biologics gained 3.06 percent.

No. 1 carmaker Hyundai Motor, meanwhile, fell 1.67 percent and steelmaker POSCO remained flat.

The local currency was trading at 1,122.5 won against the US dollar, up 2.9 won from the previous session's close.