[THE INVESTOR] South Korean shares opened lower on June 28, tracking overnight losses on Wall Street amid weak investor sentiment.
The benchmark Korea Composite Stock Price Index fell 16.59 points, or 0.86 percent, to 1,910.16 in the first 15 minutes of trading.
Investors are now waiting for policy action by central banks around the globe to inject liquidity into markets to ease the turmoil caused by Britain’s decision to quit the European Union.
Investors have been selling risky assets in the aftermath of the so-called Brexit, opting for safer assets, such as the dollar and yen.
Analysts expect global stock markets to remain volatile for the time being, with the country’s key stock index staying close to the 1,850-point level.
On June 27, the Dow Jones industrial average dropped 260.51 points, or 1.50 percent, with the tech-heavy NASDAQ dipping 2.41 percent.
Large-cap stocks declined across the board.
Market bellwether Samsung Electronics fell 1.07 percent, top automaker Hyundai Motor dropped 0.35 percent, and state-run Korea Electric Power Corp. slid 0.17 percent.
Among gainers, leading cosmetics maker
AmorePacific rose 0.97 percent, dominant tobacco company
KT&G climbed 0.39 percent, and leading steelmaker
POSCO advanced 0.76 percent.
The local currency was trading at 1,183.95 won against the U.S. dollar, down 1.65 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
