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Seoul stocks open lower on profit-taking

2016/07/14 09:24

SEOUL, July 14 (Yonhap) -- South Korean shares opened slightly lower Thursday, bucking the trend on Wall Street, as investors sought to lock in recent gains.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.34 points, or 0.07 percent, to 2,004.21 in the first 15 minutes of trading.

Keen attention is being paid to whether the KOSPI will be able to maintain momentum after reaching a monthly high a day earlier.

Traders are waiting for a statement on the results of the Bank of Korea's monthly monetary policy meeting later Thursday.

In New York, the S&P 500 inched up 0.29 points to 2,152.43 and the Dow Jones industrial average also climbed 24.45 points, or 0.1 percent, to 18,372.12.

Market behemoth Samsung Electronics Co. rose 0.41 percent, and leading automaker Hyundai Motor Co. declined 2.58 percent.

The local currency was trading at 1,145.95 won against the U.S. dollar, up 0.45 won from the previous session's close.

lcd@yna.co.kr

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