The Korea Herald

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Seoul stocks open lower amid virus fears, NK risks

By Yonhap

Published : June 19, 2020 - 09:39

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(Yonhap) (Yonhap)

South Korean shares opened lower Friday amid concerns over a recent rise in new coronavirus infection cases here and abroad, with lingering inter-Korean tensions further spooking investors.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.06 points, or 0.38 percent, to 2,125.42 in the first 15 minutes of trading.

The index's loss was largely attributed to the growing investor concerns over the high infection toll in major economies and at home, which countered economic recovery hopes.

The lingering tensions between the two Koreas also remain a negative factor for investor sentiment.

Pyongyang blew up a jointly built liaison office in its border town of Kaesong earlier this week.

Most large caps traded lower.

Market bellwether Samsung Electronics lost 0.96 percent, and No. 2 chipmaker SK hynix slipped 1.28 percent.

Top pharmaceutical firm Samsung BioLogics dropped 2.22 percent, while leading chemical maker LG Chem gained 0.41 percent.

The local currency was trading at 1,213.75 won against the US dollar, down 5.75 won from the previous session's close. (Yonhap)