Seoul stocks open nearly flat after weak U.S. jobs data

SEOUL-- South Korean stocks opened nearly flat Monday as investors seek to digest weaker-than-expected August jobs data in the United States.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.98 points, or 0.03 percent, to 3,200.08 points in the first 15 minutes of trading.

The U.S. jobs increase came to a seven-month low in August amid the spread of variant cases, raising expectations that the Federal Reserve would not rush in tapering its asset buying plans in the September meeting.

Financial firms and banks opened lower in Seoul, pulling down the KOSPI.

Top cap Samsung Electronics added 0.65 percent, while No. 2 chipmaker SK hynix lost 0.47 percent.

Internet portal operator Naver moved down 0.44 percent, but pharmaceutical giant Samsung Biologics increased 0.42 percent.

Leading chemical firm LG Chem gained 1.24 percent, and top automaker Hyundai Motor traded flat. Top bank stock Kakao Bank plunged 4.46 percent.

The local currency was trading at 1,156.45 won against the U.S. dollar, up 0.55 won from the previous session's close.

Source: Yonhap News Agency

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