[
THE INVESTOR] South Korean stocks opened lower on Aug. 2 as falling oil prices dented chemical stocks.
The benchmark Korea Composite Stock Price Index shed 6.3 points, or 0.31 percent, to 2,023.31 in the first 15 minutes of trading.
Petrochemical shares fell as US crude on Aug. 1 fell below $40 per barrel for the first time since April on concerns over a supply glut.
Top refiner SK Innovation decreased 1.33 percent, and No. 3 S-Oil slipped 1.41 percent.
Cosmetics shares rebounded following heavy losses stemming from customs office’s plan to put limit on duty-free products up for sale.
AmorePacific, the nation’s leading cosmetics maker, rose 1.32 percent, and its smaller rival LG Household & Health Care gained 1.16 percent.
The local currency was trading at 1,108.8 won against the US dollar as of 9:15 a.m., down 0.8 won from the previous close.
(
theinvestor@heraldcorp.com)
