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Seoul shares open lower on tech, insurance losses

May 22, 2024 - 09:29 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks opened lower on Wednesday, mainly due to losses from technology and insurance shares.

The benchmark Korea Composite Stock Price Index shed 13.59 points, or 0.5 percent, to 2,710.59 in the first 15 minutes of trading.

Top tech giant Samsung Electronics slid 1.28 percent, and LG Electronics shed 0.62 percent to 95,900 won.

Insurance firms were among major losers as well, with Samsung Life Insurance falling 2.94 percent and Samsung Fire & Marine Insurance decreasing 3.48 percent.

Chemical firms, on the other hand, opened higher, with Amorepacific climbing 0.43 percent and LG Household & Health Care rising 0.89 percent.

The local currency was trading at 1,364 won against the US dollar, down 0.7 won from the previous session's close. (Yonhap)