Seoul shares open lower on steel, shipbuilder losses

Seoul shares open lower on steel, shipbuilder losses

South Korean share prices opened lower Monday on losses by steelmakers and shipbuilders.

The benchmark Korea Composite Stock Price Index inched down 0.07 percent, or 1.48 points, to 2,014.01 in the first 15 minutes of trading.

Investors sold shares in steelmakers and shipbuilders such as POSCO and Hyundai Heavy Industries after seeing major firms post sluggish earnings in the first quarter.

Construction shares, on the other hand, rallied on hopes of big development deals in Iran during President Park Geun-hye’s visit to the Middle Eastern nation in early May.

Source:  http://www.koreaherald.com/view.php?ud=20160425000414

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