ID :
48395
Mon, 03/02/2009 - 08:29
Auther :
Shortlink :
https://www.oananews.org//node/48395
The shortlink copeid
Seoul stocks open sharply lower led by financials, techs
SEOUL, March 2 (Yonhap) -- South Korean stocks got off to a weak start Monday as investors dumped banking and tech shares on deepening financial jitters and the weakening local currency, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 29.7 points or
2.79 percent, to 1,033.33 in the first 15 minutes of trading.
U.S. said Friday the government will boost its equity stake in largest lender
Citigroup, stoking investor concerns over shareholder dilution and the health of
major banks.
The Dow Jones industrial average fell 1.66 percent to 7,062.93 on Friday, the
lowest close since May 1997.
The local currency was trading at 1,556.05 won to the U.S. dollar as of 9:15
a.m., down 22.05 won from a 11-year low registered at Friday's close.
pbr@yna.co.kr
(END)
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 29.7 points or
2.79 percent, to 1,033.33 in the first 15 minutes of trading.
U.S. said Friday the government will boost its equity stake in largest lender
Citigroup, stoking investor concerns over shareholder dilution and the health of
major banks.
The Dow Jones industrial average fell 1.66 percent to 7,062.93 on Friday, the
lowest close since May 1997.
The local currency was trading at 1,556.05 won to the U.S. dollar as of 9:15
a.m., down 22.05 won from a 11-year low registered at Friday's close.
pbr@yna.co.kr
(END)
