SEOUL: South Korean stocks got off to a weak start Monday on rising concerns of Greece’s exit from the eurozone, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.74 points, or 0.89 percent, to 2,085.67 in the first 15 minutes of trading.
Shares slumped across the board. Market bellwether Samsung Electronics tumbled 1.18 percent and SK hynix, the second-largest firm by market capitalization, sank 1.64 percent.
Top automaker Hyundai Motor fell 1.85 percent and its sister Kia Motors dropped 1.68 percent.
Banks shares traded bearish, with No. 1 Shinhan Financial Group retreating 1.74 percent and runner-up KB Financial Group declining 1.93 percent.
The Korean won was trading at 1,126.2 won against the dollar in Seoul as of 9:15 a.m., down 3.2 won from Friday’s close.
On Sunday, more than 60 percent of Greek voters rejected international creditors’ demand for tough austerity measures in exchange for a bailout, stoking worries over the Grexit.
