SEOUL: South Korean stocks got off to a slow start Monday on weak export data, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) slipped 21.5 points, or 1.02 percent, to 2,093.3 in the first 15 minutes of trading.
South Korea’s exports shrank 10.9 percent from a year ago, marking the fifth consecutive monthly on-year drop, the latest government data showed.
Tech giant Samsung Electronics fell 0.61 percent and chipmaker SK hynix slumped 2.74 percent.
No. 1 carmaker Hyundai Motor dropped 2.22 percent and its sister affiliate, Kia Motors, retreated 2.2 percent.
Shippers went south, with Hyundai Merchant Marine dipping 2.15 percent and Hanjin Shipping falling 2.58 percent.
The local currency was trading at 1,113.15 won against the U.S. dollar as of 9:15 a.m., down 4.95 won from Friday’s close.
