April 26, 2024

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[THE INVESTOR] South Korean stocks opened lower on Nov. 15, led by losses in chemical and steel stocks.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.73 points, or 0.42 percent, to 2,515.91 in the first 15 minutes of trading.

Petrochemical shares experienced bearish trading after a steep drop in crude oil prices weighed on energy sector stocks on Wall Street on Tuesday.

SK Innovation, the nation‘s largest refiner, fell 2.71 percent, and No. 3 S-Oil retreated 2.09 percent.

Leading steel maker POSCO declined 2.35 percent.

In contrast, market behemoth Samsung Electronics inched up 0.07, and top automaker Hyundai Motor gained 0.62 percent.

The local currency was trading at 1,811.5 won against the US dollar, up 2.3 won from the previous session’s close.

By Alex Lee and newswires (alexlee@heraldcorp.com)