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Seoul stocks open lower on virus woes

By Yonhap

Published : April 30, 2021 - 09:32

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Stock market in South Korea (Yonhap) Stock market in South Korea (Yonhap)
South Korean stocks opened lower Thursday amid concerns of the spreading new coronavirus cases.

The benchmark Korea Composite Stock Price Index (Kospi) fell 5.82 points, or 0.18 percent, to 3,168.25 points in the first 15 minutes of trading.

Stocks got off to a muted start as the country's social distancing scheme will be extended by three more weeks ahead of holidays next month.

South Korea's industrial output increased 0.8 percent in March on-month, slowing from a 2.1 percent growth in February.

In Seoul, market kingpin Samsung Electronics edged up 0.12 percent, while No. 2 chipmaker SK hynix shed 1.15 percent.

Internet portal giant Naver moved down 1.64 percent, and leading carmaker Hyundai Motor declined 1.15 percent.

Giant chemical maker LG Chem retreated 1.58 percent, and top pharmaceutical firm Samsung Biologics decreased 0.75 percent.

The local currency was trading at 1,108.15 won to the US dollar, up 0.05 won from the previous session's close. (Yonhap)