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Seoul stocks open lower on Wall Street losses

09:24 October 23, 2019

SEOUL, Oct. 23 (Yonhap) -- Seoul stocks opened lower Wednesday, tracking overnight losses on Wall Street amid Brexit uncertainties.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 5.96 points, or 0.29 percent, to reach 2,082.90 in the first 15 minutes of trading.

U.S. stocks dropped Tuesday (local time) on concerns over the global economy following the latest Brexit developments. Earlier, British lawmakers rejected the government's plan to pull Britain out of the European Union by Oct. 31.

In Seoul, most large caps suffered a weak start.

Market kingpin Samsung Electronics shed 0.20 percent, and No. 2 chipmaker SK hynix lost 1.14 percent.

Top carmaker Hyundai Motor dipped 0.82 percent, while auto parts maker Hyundai Mobis dropped 0.62 percent.

However, pharmaceutical firms were strong, with industry leader Celltrion advancing 4.44 percent and Samsung BioLogics shooting up 7.41 percent.

The local currency was trading at 1,173.50 won against the U.S. dollar, down 3.80 won from the previous session's close.
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