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Seoul shares trade lower after strong start

Seoul shares trade lower after strong start

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Published : 2013-01-21 09:26
Updated : 2013-01-21 09:26

South Korean stocks started slightly higher but soon lost ground on Monday, led by losses in techs and carmakers, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) opened 0.01 percent higher but soon shifted to negative territory, losing 9.8 points, or 0.49 percent, to 1,978.05 in the first 15 minutes of trading.

Market bellwether Samsung Electronics dropped 1.49 percent and LG Display, one of the biggest flat screen suppliers for Apple, fell 2.26 percent.

Carmakers were also bearish on the won's persistent strength, with industry leader Hyundai Motor slipping 1.41 percent.

The local currency was changing hands at 1,058.5 won against the greenback, down 1.3 won from Friday's close. (Yonhap News)

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