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Korean shares open lower on profit-taking

Feb. 22, 2016 - 10:22 By KH디지털2

Korean stocks opened slightly lower Monday as investors tried to lock in profits from last week's gains on lingering concerns about the global economy and a slump in oil prices.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.59 points, or 0.14 percent, to 1,913.65 in the first 15 minutes of trading.


Market heavyweights were in negative terrain across the board.

Market bellwether Samsung Electronics inched down 0.08 percent, and top automaker Hyundai Motor lost 1.01 percent.

LG Electronics, the nation's No. 2 electronics maker, rose 3.29 percent after its latest flagship smartphone, the G5, drew a positive response from the Mobile World Congress underway in Barcelona, Spain.

The local currency was trading at 1,233.9 won against the U.S. dollar, up 0.5 won from Friday's close. (Yonhap)