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Seoul shares open lower on banks, brokerage losses

South Korean stocks got off to a weak start Monday, driven by losses in banks and brokerage firms, analysts said.

The benchmark Korea Composite Stock Price Index slipped 7.29 points, or 0.34 percent, to trade at 2,161.66 in the first 15 minutes of trading. 


Financial stocks led the decline, with leading lender Shinhan Financial dipping more than 2 percent and brokerage firm NH Investment & Securities sliding nearly 3 percent.

In contrast, domestic-focused issues gathered ground, with SK Telecom, the country's top mobile carrier, climbing 1.5 percent.

The local currency was trading at 1,114.80 won against the US dollar as of 9:15 a.m., up 7.8 won from Friday's close. (Yonhap)

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