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Seoul stocks open lower on profit-taking

Stock market in South Korea (Yonhap)
Stock market in South Korea (Yonhap)
South Korean stocks opened lower Friday as investors attempted to cash in recent gains.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.74 points, or 0.36 percent, to 3,230.91 points in the first 15 minutes of trading.

The KOSPI got off to a lackluster start amid sell-offs on the auto, bio and tech large caps.

Overnight, the Dow Jones Industrial Average gained 0.44 percent, with the tech-heavy Nasdaq composite and the S&P 500 advancing 0.11 percent and 0.42 percent, respectively.

In Seoul, Samsung Electronics lost 0.38 percent, and No. 2 chipmaker SK hynix retreated 0.44 percent.

Top automaker Hyundai Motor declined 0.45 percent, and internet portal operator Naver moved down 0.8 percent. Leading chemical firm LG Chem added 2.16 percent.

Pharmaceutical firm Samsung Biologics decreased 0.77 percent.

The local currency was trading at 1,144.2 won against the US dollar, up 2.3 won from the previous session's close. (Yonhap)

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