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Seoul shares open lower on policy uncertainties

Aug. 1, 2013 - 09:45 By 윤민식
South Korean stocks opened lower Thursday as the United States Federal Reserve remained silent over when the central bank will scale back its quantitative easing moves, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.28 points, or 0.28 percent, to 1,908.75 in the first 15 minutes of trading.

Tech shares traded lower, with top chipmaker SK hynix falling 0.18 percent and handset maker LG Electronics losing 0.41 percent. Market behemoth Samsung Electronics remained unchanged.

Carmakers traded mixed, with Kia Motors falling 1.1 percent and its bigger affiliate Hyundai Motor adding 0.22 percent. Top auto parts maker Hyundai Mobis lost 1.46 percent.

The local currency was trading at 1,121.35 won against the U.S. dollar as of 9:15 a.m., up 2.15 won from Wednesday's close. (Yonhap News)