The Korea Herald


Seoul shares open lower on earnings woes

By KH디지털뉴스부공용

Published : Jan. 28, 2013 - 09:32

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South Korean stocks got off to a weak start on Monday as investors shed holdings amid lingering concerns over fourth-quarter corporate earnings, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.71 points, or 0.55 percent, to 1,935.98 in the first 15 minutes of trading.

Key exporters lost ground. Market bellwether Samsung Electronics, which announced its quarterly results on Friday, slumped 2.19 percent and top steelmaker POSCO fell 1.09 percent.

The local currency was trading at 1,081.65 won against the U.S. dollar as of 9:15 a.m., down 7.15 won from Friday's close. (Yonhap News)