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Seoul stocks open lower on chemical, steel losses

2017/11/15 09:21

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SEOUL, Nov. 15 (Yonhap) -- South Korean stocks opened lower Wednesday, led by losses in chemical and steel stocks.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.73 points, or 0.42 percent, to 2,515.91 in the first 15 minutes of trading.

Petrochemical shares experienced bearish trading after a steep drop in crude oil prices weighed on energy sector stocks on Wall Street on Tuesday.

SK Innovation, the nation's largest refiner, fell 2.71 percent, and No. 3 S-Oil retreated 2.09 percent.

Leading steel maker POSCO declined 2.35 percent.

In contrast, market behemoth Samsung Electronics inched up 0.07, and top automaker Hyundai Motor gained 0.62 percent.

The local currency was trading at 1,811.5 won against the U.S. dollar, up 2.3 won from the previous session's close.