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Seoul stocks open lower on auto, financial losses

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Monday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Monday. (Yonhap)
South Korean stocks opened lower Monday, weighed by losses of auto and financial heavyweights.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 13.39 points, or 0.46 percent, to 2,908.53 points in the first 15 minutes of trading.

The key stock index got off to a weak start, following a two-day losing streak amid concerns about the rising inflationary pressure at home and in the United States.

In Seoul, leading carmaker Hyundai Motor lost 1.67 percent, with its smaller affiliate Kia retreating 1.07 percent.

Financial heavyweight KB Financial Group shed 0.64 percent, and steelmaker POSCO moved down 1.34 percent.

No. 2 chipmaker SK hynix decreased 1.56 percent, but top cap Samsung Electronics rose 0.52 percent.

The local currency was trading at 1,191.6 won against the US dollar, down 4.3 won from the previous session's close. (Yonhap)
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