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Korean shares open lower on blue chip losses

South Korean stocks opened lower Monday as key blue chips lost ground.

The benchmark Korea Composite Stock Price Index shed 10.96 points, or 0.51 percent, to 2,140.77 in the first 15 minutes of trading.


Tech shares mostly fell, with South Korea's No. 2 chipmaker SK hynix moving down 1 percent, and LG Electronics sliding 2.12 percent. Market behemoth Samsung Electronics, on the other hand, managed to climb 0.38 percent.

Mobile carriers also gave up ground, with industry leader SK Telecom down 0.59 percent and No.2 KT falling 1.07 percent. LG Uplus also decreased 0.68 percent.

Top steelmaker POSCO edged down 0.55 percent, and Korea Zinc also lost 1.07 percent.

The local currency was trading at 1,139.60 won against the US dollar, a loss of 5.1 won from the previous session's close. (Yonhap)