Seoul stocks open lower amid high valuation pressure

South Korean stocks opened lower Friday on increased valuation pressure after gaining for the past five sessions. 

The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.73 points, or 0.52 percent, to reach 3,230.7 points in the first 15 minutes of trading.

The KOSPI got off to a weak start 사설토토사이트 finishing only an inch away from its all-time high the previous session. A tech slump led the KOSPI's retreat.

Market bellwether Samsung Electronics declined 0.72 percent, and No. 2 chipmaker SK hynix shed 1.94 percent.

Internet portal operator Naver moved down 1.52 percent, and giant pharmaceutical firm Samsung Biologics lost 0.36 percent.

Top automaker Hyundai Motor climbed 0.84 percent, but leading chemical firm LG Chem decreased 0.49 percent.

The local currency was trading at 1,118.1 won against the US dollar, down 4.5 won from the previous session's close. (Yonhap)