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Seoul shares open lower on profit-taking

Feb. 26, 2024 - 10:15 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 sought profits after a recent rally.

The benchmark Korea Composite Stock Price Index retreated 15.89 points, or 0.6 percent, to 2,651.81 in the first 15 minutes of trading.

The main index rose for two straight sessions at the end of last week on the back of Nvidia-led gains in semiconductor shares.

Market heavyweights led the negative opening.

Top-cap Samsung Electronics fell 0.27 percent, and leading oil refinery SK Innovation slid 1.62 percent.

Hyundai Motor, the country's largest carmaker, decreased 2.66 percent, and its auto parts affiliate Hyundai Mobis sank 3.04 percent.

But leading battery maker LG Energy Solution rose 0.75 percent, and major steelmaker Posco Holdings added 0.8 percent.

The local currency was trading at 1,331.05 won against the US dollar, up 0.05 won from the previous session's close. (Yonhap)