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Seoul shares open lower after rally

Feb. 5, 2024 - 09:48 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)

South Korean stocks started lower Monday as investors locked in profits following a surge the previous session.

The benchmark Korea Composite Stock Price Index dropped 1.32 percent, or 34.56 points, to 2,580.75 in the first 15 minutes of trading.

On Friday, the Kospi soared 2.87 percent on the back of a climb in autos and techs.

Market bellwether Samsung Electronics sank 1.46 percent, and its consumer electronics rival LG Electronics declined 0.51 percent.

Bio shares also traded weaker, with Samsung Biologics decreasing 0.23 percent and Celltrion retreating 0.98 percent.

Mobile carriers and game publishers were also in negative territory, with industry leader SK Telecom falling 0.6 percent and NCSOFT dipping 0.74 percent.

The local currency was trading at 1,338.05 won against the US dollar, down 15.45 won from the previous session's close. (Yonhap)