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Seoul shares open lower on foreign selling

May 15, 2017 - 09:33 By a2016032

South Korean stocks opened lower Monday as foreign investors continued to dump market heavyweights, such as Samsung Electronics amid lingering geopolitical uncertainties.

The benchmark Korea Composite Stock Price Index lost 4.7 points, or 0.21 percent, to 2,281.32 in the first 15 minutes of trading.

Earlier in the day, North Korea said that it has successfully tested-fired a new surface-to-surface intermediate-range ballistic missile, claiming that the US mainland is within its reach.

Market bellwether Samsung Electronics lost 0.22 percent, while SK hynix, the world's second-largest memory chipmaker, remained unchanged.

Top automaker Hyundai Motor lost 0.97 percent, and its smaller affiliate Kia Motors shed 0.27 percent. Top auto parts maker Hyundai Mobis also declined 0.61 percent.

The local currency was trading at 1,126.40 won against the US dollar as of 9:15 a.m., up 1 won from Friday's close. (Yonhap)