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The Korea Herald
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THE INVESTOR
March 29, 2024

Market Now

Seoul shares open lower on institutional selling

  • PUBLISHED :February 24, 2017 - 09:48
  • UPDATED :February 24, 2017 - 09:48
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[THE INVESTOR] South Korean stocks opened lower on Feb. 24 due to increased selling by institutional investors.

The benchmark KOSPI fell 2.11 points, or 0.10 percent, to 2,105.52 as of 9:15 a.m.

The broad index bucked overnight gains on Wall Street. The Dow Jones industrial average advanced 0.17 percent.

“Institutional selling weighed on the index,” said Kim Ye-eun, an analyst at Cape Investment & Securities.

Most large-cap stocks were mixed across the board.

Top automaker Hyundai Motor rose 0.68 percent, and Samsung C&T, the de facto holding firm for Samsung Group, was up 0.40 percent.

Meanwhile, market bellwether Samsung Electronics fell 0.46 percent, and No. 2 chipmaker SK hynix was down 1.10 percent.

The local currency was trading at 1,132.60 won against the US dollar, up 4.70 won from the previous session‘s close.

(theinvestor@heraldcorp.com)

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