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Seoul shares open higher following previous day's sharp drop

2018/10/12 09:30

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SEOUL, Oct. 12 (Yonhap) -- South Korean stocks started a tad higher on Friday following a sharp drop in the previous day.

The benchmark Korea Composite Stock Price Index gained 7.7 points, or 0.36 percent, to 2,137.37, in the first 15 minutes of trading.

It experienced a more than 4 percent drop on Thursday for the first time in seven years as global stock markets including Wall Street were dragged down by concerns over an economic downturn

Following its 4 percent drop the previous day, Wall Street extended its losses, with the Dow Jones Industrial Average tumbling 2.13 percent and the Nasdaq Composite sinking 1.25 percent.

In South Korea, market heavyweights traded in positive territory, with top-cap Samsung Electronics gaining 0.7 percent.

Chemicals makers went bullish as industry leader LG Chem rose 1.3 percent and Kumho Petro Chemical climbed 1.35 percent.

The South Korean currency was trading at 1,136.1 won against the U.S. dollar, up 8.3 won from the previous session's close.

brk@yna.co.kr

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