Published : 2013-03-22 09:44
Updated : 2013-03-22 09:44
South Korean stocks opened lower Friday as investors took a wait-and-see stance due to the rising concerns over the eurozone economy following an aborted rescue plan for Cyprus, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.99 points, or 0.2 percent, to 1946.83 in the first 15 minutes of trading.
Carmakers traded lower, with No. 1 industry player Hyundai Motor losing 0.47 percent, and its smaller affiliate Kia Motors moving down 0.18 percent. Top auto parts maker Hyundai Mobis decreased 0.84 percent.
Mobile carriers also lost ground, with No. 1 player SK Telecom falling 1.94 percent and KT losing 1.96 percent to 35,750 won. No. 3 industry player LG Uplus plunged 3.66 percent.
The local currency was trading at 1,116.45 won to the U.S. dollar as of 9:15 a.m., down 0.75 won from Thursday‘s close.(Yonhap News)