SEOUL: South Korean stocks got off to a weak start on Tuesday as overnight losses in the U.S. stock market and persistent concerns over China’s growth continued to nag investors, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 20.01 points, or 1.09 percent, to 1,809.8 in the first 15 minutes of trading.
Shares were mixed. Some blue-chip exporters gained, with SK hynix gaining 1.29 percent and Kia Motors rising 0.99 percent.
Hyundai Merchant Marine, the biggest shareholder of Hyundai Asan, which operates tour services to North Korea’s Mt. Kumkang, surged 12.75 percent after Seoul and Pyongyang reached a dramatic agreement to defuse military tension.
The local currency was trading at 1,195.5 won against the U.S. dollar as of 9:15 a.m., up 3.5 won from the previous close.
